Pound Sterling losses continue as cost of living crisis dominates headlines – New Prime...
Sterling exchange rates have continues to drift to kick start a new trading week, as the cost of living crisis dominates headlines across UK media.
With today being an important day for UK politics as we see the announcement of the winner in the Conservative party leadership contest, and ultimately who will be the new Prime Minister, they will almost instantaneously have to announce how they plan to combat what appears to be an extremely challenging winter for the majority of households and businesses.
It is...
Pound to Canadian Dollar exchange rates: Will the pound fall further once the Tory...
What will happen to GBP/CAD exchange rates after the Tory leadership contest?
Over the last 8 weeks the pound has gradually been losing value against the Canadian dollar. 8 weeks ago GBP/CAD mid-market exchange rates were above 1.77 and now mid-market levels are trading just above the 1.6350. To put this into monetary value a CAD$300,000 purchase now costs clients an additional £14,000. The question many of my clients are asking is whether the pound will fall further once the Tory leadership contest is over...
Pound to Canadian dollar forecast: Impact of UK politics on GBP/CAD rates
What has caused pound to Canadian dollar rates to weaken?
The Canadian dollar has been improving against the pound recently owing to a number of different reasons. If we look closely at the Canadian dollar it has felt the benefit of an interest rate cut expectation south of the border in the US. This has seen a sell off for the US dollar and investors have chosen to move funds into the Canadian dollar. GBP/CAD exchange rates have now fallen below 1.70 and I think...
Canadian dollar exchange rates choppy on Trade Wars and Oil!
The Canadian dollar has been struggling under a series of pressures following the latest news that has seen big fluctuations in the value of the price of Oil and therefore the Canadian dollar. Expectations are high for some important developments at the upcoming OPEC (Organisation Petroleum Exporting Countries) this Friday which has seen big changes in the price of Oil and assets, commodities and currencies connected to it.
The Canadian dollar is also susceptible to comments from Donald Trump regarding the Trade Wars which will...
NAFTA talks drag on which causes the Canadian Dollar to weaken against the Pound
The Canadian Dollar has once again come under pressure against the Pound as the three countries involved in the NAFTA negotiations are not close to a deal yet.
US Congress appears to be running out of time at the moment in order to approve a new deal and with the Mexican election just over 3 weeks away I think it will be difficult to get things organised in the short term and this uncertainty is causing a problem for the Canadian Dollar.
According to one source...
Canadian Dollar slips as Trump makes new NAFTA surprise!
The Canadian Dollar has lost value today after a surprise comment from the US' White House chief economic adviser.
Larry Kudlow is chief economic adviser to the White House so he has a close relationship with US President Donald Trump. Today Kudlow confirmed that Trump wishes to negotiate separate bilateral deals with Mexico and Canada. The reason for the market reaction is due to this coming as a surprise, and also the change it will bring if it goes ahead. The current plan in place...
Bank of Canada interest rate decision and the impact on GBPCAD rates
The Bank of Canada are due to be meeting later this evening to announce their latest interest rate decision.
The expectation is to keep interest rates on hold so I don't think we'll see any changes in monetary policy, however, the important part of the day will be the accompanying statement which will provide us with evidence as to why they have decided this month's policy.
The Canadian Dollar has been gradually improving against the Pound during the last few months but we could start to...
Canadian Dollar Supported ahead of Bank of Canada Meeting
The Canadian dollar continues to find support as the price of oil climbs higher and the concerns over the renegotiation of the NAFTA agreement have softened in recent weeks. Ever since US President Donald Trump pulled out of the Iran nuclear deal the price of oil has been inching higher and this is helping strengthen the Canadian dollar. There is currently a good opportunity for selling Canadian dollars.
As a commodity currency and net exporter of oil the Canadian dollar tends to strengthen when oil...
Could UK Retail Sales help to increase the Pound vs the Canadian Dollar?
The Canadian Dollar has continued to strengthen during the course of this week against the Pound and it appears to be following the same trend as what is also happening with GBPUSD rates.
Oil prices have been on the rise and the highest they have been for a few years and as Canada is such a huge oil exporter this is likely to provide the Canadian Dollar with a lot of strength as it should in theory help to reduce the Trade Balance and increase...
Will the Pound have a positive end to the week against the Canadian Dollar?
In the last few days the Canadian Dollar has improved against the Pound after the Bank of England decided to once again keep interest rates on hold. The split was 7-2 in favour of keeping rates the same which came as no surprise but the real surprise was a huge downgrading of the UK's growth forecasts for 2018.
Previously in February the forecast for this year was 1.8% but since then the forecast was now been changed to 1.4% and this caused a big sell...
