Review the paragraphs below for additional information there regarding your selected two countries currency.

Australian dollar indicators:

The Australian dollar fell below $0.645, paring gains after a strong rally as China reiterated its commitment to its zero-Covid strategy, dashing hopes for an economic reopening that could boost global demand. The currency has also been whipsawed by shifting views on the US Federal Reserves rate hike plans, with a mixed jobs report supporting expectations for a slower pace of rate increases, while another hot inflation report on Thursday would likely fuel bets for a more aggressive move. Meanwhile, the Reserve Bank of Australia delivered a more modest 25 basis point hike last week, defying some analysts expectations for a bigger move. Still, the RBA has now lifted the cash rate by a total of 275 basis points to 2.85% since May, and signaled further tightening as it balances efforts to bring down inflation with the desire to keep the economic momentum going.

The Australian Dollar is expected to trade at 0.63 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 0.60 in 12 months time.

Canadian dollar indicators:

The Canadian dollar appreciated to $1.35, the highest in six weeks, after a better-than-expected jobs report suggested policymakers will need to continue to hike rates until it actually restrains the economy. The Canadian economy added 108K jobs in October, much more than forecasts of a 10K gain, and total hours worked went up 0.7%, the most since June. The Bank of Canada lifted rates by 50 bps on October 26th, following two consecutive meetings of bigger increases. Meanwhile, mixed signals about the US labour market dragged down the dollar sharply.

The Canadian Dollar is expected to trade at 1.37 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.42 in 12 months time.

My calculated forward currency rate for Australia is 1.55507; for Canada it's 1.35093.

Australia is currency A, Canada is currency B

1. Discuss whether your calculated forward currency exchange rate for Currency A and Currency B is expected to appreciate or depreciate in comparison with the U.S. dollar.

2. How does your calculated forward currency exchange rate (Part 1, Table II) compare with the currency summary (Part 2) from the paragraphs I listed above? In other words, does it compare favorable, or is there a significant difference

3. Are you able to justify your forward rate calculation? How so? Explain.