Tag Archives: canadian dollar
The week ahead for the Pound – Expectations against Euro, Dollar, Australian Dollar, New Zealand Dollar and Canadian Dollar
Here are my thoughts on the week ahead for the pound against the following currencies. Please do remember you can sign up to our mailing list for free by filling in the form at the top right hand corner of this page and you can also make an enquiry should you have a currency requirement by email me directly djw@currencies.co.uk
Sterling – Euro
The Pound has once again been in great shape against the Euro creeping nearer and nearer to a four year high and following the rate cut by the ECB, problems with the banks in Spain and the potential looming of an Italian bailout I just cannot see the Euro fighting back with any great force anytime soon. Indeed our head of Corporate trading has now changed his view now seeing the Pound go above 1.30 in the coming weeks, this is a man with over 25 years experience in the industry so I treat his opinion as extremely valuable. The Bank of England could easily step in and ruin this outlook with key releases from them tomorrow and Wednesday as discussed below.
Sterling - Dollar
With the general outlook across the globe being fairly poor at present and doom/gloom looking like it may be on-going for some time I expect the Dollar to be the main winner of the week as traders and investors stay risk averse and to continue to plunge into the Greenback. We do see retail sales out for the U.S this afternoon which may set the scene for the week however I think movement for this particular currency will be dependant on attitude to risk rather than economic data.
Sterling – Australian Dollar
The AUD took a minor hit last week following data from China showing that their growth had slowed down (however figures were still good). I feel the AUD may have an ok week this week as we have seen demand for Asian shares start the week on a high which should help boost the Aussie. Expectations for the Reserve Bank of Australia to bring in measurements to aid growth could also help the AUD have a promising week however no mention of this and more problems in Europe could easily push this rate the other way. This pairing can be extremely volatile, if you have a trade to carry out and want to have me as an extra pair of eyes and ears on the market feel free to get in touch djw@currencies.co.uk
Sterling – New Zealand Dollar
Again Asian stocks have started the NZD off on the right foot this week and the high yielding NZD will continue to be sought after as long as risk appetite stays around. Like with the AUD I feel this currency may climb further against the Pound this week unless we see big news for Europe leading to investors pulling out of riskier funds and currencies such as the AUD, NZD and ZAR falling – This could easily happen so make sure you are on the ball should you need these currencies.
Sterling – Canadian Dollar
Sterling may lose the gains we saw on Friday as the CAD follows the trend of the USD and is a good bet to strengthen back a little this week. I still feel it is going to stay fairly rangebound however between 1.565 and 1.5850 it is just a case of catching it at the right time.
Overall There are some key releases for the U.K that could easily damage the Pound this week, our good friend BOE Governor Mervyn King speaks tomorrow following a huge amount of inflation data and then on Wednesday the Bank of England minutes are out at 09:30am and we all know how the BOE seem to like knocking the Pound back down a little when things are looking on the up so be very aware of the markets on Wednesday morning.
If you would like to be kept up to date with market movements or have a currency transfer to carry out then i’m confident I can beat the rate you are getting from your bank or current broker, even if you already feel you are getting a good deal – There is generally always room for improvement on these markets. Why not test me? You can email me directly on djw@currencies.co.uk with a brief description of what you are looking to do and I will be more than happy to assist you both in terms of great rates and customer service. I look forward to speaking with you.
Interest rate decision in Canada looms. Where will the CAD rate be next week?
GBP/CAD exchange rates have been on a very volatile ride recently and if you require buying this currency you would have been happy seeing the pound gain about 3% recently. As quickly as the pound rose it weakened by 3 cents in the space of two days after. This goes to show how quickly the currency pair can move. Accelerating growth in the US boosted demand for riskier currencies and rising oil prices have supported the CAD.
The pound is back up and hovering around the 1.59 level and next week there is a big interest rate decision for Canada on Tuesday. It is unlikely that we will see a change in the rate of interest but if there are any rumours of a rate hike then you could potentially see some Canadian Dollar Strength. I think a rate rise is unlikely so it will be down to investor sentiment that will drive the currency. With rates back up recently you may find that now is a good time to secure your Canadian Dollars before we see a potential dip again back down to the 1.56 mark. We have lots of different options that may be ideal for your requirement. Please contact me at bma@currencies.co.uk to discuss how we may be able to make you a saving on your exchange.
UK Retail Sales at 09.30 am could take the edge of sterling rates whilst this afternoon sees US and CAD Inflation Data
Happy Friday Readers! Despite a pretty rough week for sterling we are still very close to a 17 month high for buying euros. Today at 09.30 however we have the important UK retail sales data release which is predicted to show a contraction in UK consumer spending habits. I expect this will actually cause the pound to lose some ground in early morning trading..
Months of uncertainty over the US economy is turning to confidence as recent US data has showed unemployment decreasing. New Home sales yesterday showed a recovery and benefit claims also dropped. The US is seen as a barometer of the global economy and signs the US recovery is underway helped lift confidence late afternoon. The US dollar weakened as investors looked to other assets creating some excellent opportunities, close to the best since November. At 13.30 today we have US Inflation Data which could be a big market mover. If you are buying dollars be aware that the market may take an unexpected twist late on.
Staying in North America also at 13.30 we have Canadian Inflation Data. The Loonie has been making gains on a weaker pound and if we see signs Canadian Inflation is rising, you may see the CAD strengthen in afternoon trading.
If you are making any kind of currency transfer it is well worth your while getting in touch with us before you make any final decisions. This site has helped thousands of people save thousands of pounds on their currency exchanges. Speak to me direct on jmw@currencies.co.uk to learn more.
Canadian Dollar surges on higher inflation
Sterling’s biggest loss of the day was against the CAD yesterday as Canada’s annual inflation rate jumped to the highest level in eight years last month, rising to 3.7 per cent, much higher than economists had expected. That prompted speculation that the Bank of Canada may have to raise interest rates earlier than expected and calls are for a rate hike before the year end. The pound lost around 2 cents against the CAD after the data release. If you had traded before the data release you could have achieved an extra $3780 on a £200K purchase.
We have seen the pound fluctuate by over 6 cents in the last month alone and for those with a requirement to buy Canadian Dollars the outlook is bleak if interest rates start to rise by the year end.
If you want to speak with us regarding any future exchanges that you need to make please feel free to contact me on bma@currencies.co.uk
Quiet day for the Pound Versus Euro, Dollar, Australian Dollar, New Zealand Dollar unless we have surprises – Busy day for Canada
Good morning readers, today appears to be reasonably quiet on the currency markets for economic data unless you have an interest in buying or selling Canadian Dollars as there are various releases at lunchtime for Canada.
We see inflationary data at 12:00 and retail sales at 13:30pm – Both will no doubt bring volatility to the GBP – CAD rate of exchange.
No major changes from last month are expected so should any release throw up a surprise (which happens a lot on the currency markets) no doubt the markets will move accordingly.
If you are buying or selling a property abroad, have business transactions to carry out or simply need to get money overseas for any other reason and want the best exchange rates, just fill in the form on the right hand side and one of the experienced traders that write on this blog will be in touch shortly.
Sterling weak against most major currencies – holding up against Euro
Sterling has continued to fall over the weekend against a basket of major currencies inclusive of the U.S Dollar, Australian Dollar, Canadian Dollar, Japanese Yen and many more.
The Pound has lost a lot of value on a trade weighted basis over the past week however has pretty much stayed solid against the Euro due to the many underlying problems throughout the group of economies.
Obviously the PIIGS of Europe especially Greece are still holding back any positive movement for the Euro against all major currencies and it appears that the Pound and Euro are locked into a battle as to who can weaken the most.
The Bank Of England minutes this week are key for Sterling and are due out on Wednesday morning, those with upcoming transactions to make must keep in close contact with a professional and dedicated broker who can ensure you have the tools in place to make sure you don’t get hit hard whatever the result.
There are a variety of other releases due out this week for the U.K and overseas which will all have an effect on the cost of your currency, today however is rather quiet.
If you are buying a property abroad, have business transactions to carry out or need to get money overseas for any other reason and want the best exchange rates, just fill in the form on the right hand side and one of the experienced traders that write on this blog will be in touch shortly.
