Expect significant volatility for GBP/CAD rates today

Canadian Dollar Suffers Seven-Week Low Following the Spread of the Coronavirus

Today will be a mixed day for the Canadian Dollar and its currency pairs. There will be an unprecedented 13 significant data releases for the US economy today, all of which offer an insight to the economic strength of Canada’s largest trading partner. The data varies from the amount of natural gas storage to the amount of jobless claims in the US, some will be positive, and some negative, so rates will be moving significantly, but they may end up staying in the 1.94’s.

The current amounts of natural gas stored, as well as oil barrels will be a key data release for the strength of the Canadian Dollar. Should this come in lower than expected, this will be a boost for the CAD as there will be a greater market for their oil across the border if warehouses are not already filled to the brim.

If you were looking to achieve a particular rate today then it would be best to call now on 01494 787 478. A clearer picture of what to aim for will emerge throughout the day, so it is best to establish contact first if you would like to be the first called when your target rate becomes a possibility, or if you need to know rates are about to drop. Once we reach that point a free quote can be offered for your transfer, and I have never had any problems bettering rates quoted by competing banks or currency brokerages.