Should I buy Canadian dollars now?

Canadian Dollar Strength over Uncertainty in Middle East

The Canadian dollar is continuing to make gains across most of the major currencies with a particularly strong improvement against the pound. Rates for GBP CAD have now fallen to 1.7342 creating an excellent opportunity for those clients looking to sell Canadian dollars for pounds. The Canadian dollar has been boosted on the rising price of oil which has stemmed from geopolitical concerns in the Middle East. US President Donald Trump has pulled out of the Iran nuclear deal which is creating uncertainty in the...

Stronger Canadian Dollar as oil price strengthens, will the strong run for oil help...

The Loonie (Canadian Dollar) has begun the week in strong fashion after gaining on the US Dollar during today's trading session. After a few very strong weeks for the Greenback (US Dollar) it's currently heading for its 4th successive day of losses, with some believing that the bull run for the US Dollar is running out of steam. One of the main reasons for CAD's strength apart from benefiting from the weaker Dollar is the stronger oil price. It's been increasing in value recently for a...
Pound unsteady against the Canadian Dollar as Brexit vote just a week away

NAFTA deal still far from sewn up

US threatens non-approval on NAFTA deal if there is no firm proposal in place in three weeks. The North American Free Trade Agreement (NAFTA) is currently in the process of being renegotiated. NAFTA is a free trade deal between the Sates, Mexico and Canada. Trump has made very clear he is unhappy with the current deal and has called it "the worst trade deal in history." The results of the new negotiations could have huge ramifications fro the Canadian Dollar, the US is Canada's largest trading partner. If...

CAD Forecast – Canadian GDP Figures Boost the CAD’S Value Further (Matthew Vassallo)

The CAD has found a new lease of life over recent weeks, with another positive move during Tuesday’s trading. CAD/GBP rates have spiked by around a cent and a half, following the release of today’s attest Gross Domestic Product (GDP) figure. Canada’s economy has grown by 0.4%, with the official figure coming in above the markets predicted result of 0.3%. This healthy reading is the culmination of a run of strong economic data, which has helped to boost investor confidence in the Canadian economy over recent weeks. This...
Pound to Canadian Dollar rates as Brexit Political Declaration Negotiated

CAD Weakness on Falling Oil Price

The Canadian dollar fell against the US dollar yesterday on the back of falling oil prices which slipped on yesterday’s markets. Oil is one of Canada’s biggest exports so any drop in the price usually has a direct negative impact on the Canadian dollar. Canadian Gross Domestic Product (GDP) numbers are released tomorrow and are likely to be scrutinised by the Bank of Canada which has been forced to take a more dovish stance of late. A strong figure would be welcome news for the...
Could we see further CAD strength

Canadian Dollar Still Uncertain over NAFTA

The Canadian dollar continues to remain on the back foot as uncertainty surrounding NAFTA remains the primary concern for the Canadian economy. The Bank of Canada has raised its concerns over the issue as well and its Governor Stephen Poloz has hinted at not raising interest rates until the future is more clear on this matter of trade. The Bank of Canada surprised the markets last July when it raised interest rates by 0.25% which was later followed up with another hike in the Autumn....
Interest rate decision for Canada

Bank of Canada dovish which leads to Canadian Dollar weakness – NAFTA concerns starting...

We have seen further weakness for the Canadian Dollar during trading today following on from the Bank of Canada Governor Poloz offering a fairly dovish view on the economy in a speech last night. The NAFTA agreement or more importantly the uncertainty behind it is starting to weigh heavily on business confidence in Canada, along with the continued strength of the U.S Dollar which is also leading to the Canadian Dollar weakening. The rise for U.S treasury 2-year notes compared to Canadian 2-year notes is now...
GBP CAD Rates Boosted on Brexit Hopes

Canadian bank due to keep interest rates on hold causing the Canadian Dollar to...

After having a good run the Canadian Dollar has started to fall against the Pound after an interest rate hike in Canada appears now to be less likely. Bank of Canada governor Stephen Poloz has suggested that any rate hike may not be coming in the near future. Canadian inflation is currently close to a three year high at the moment and as high inflation is one of the key responsibilities for a central bank this would typically put pressure on a bank to consider...
Brexit Progress Heavily influencing GBP to CAD rates

Will GBPCAD break 1.80 this week?

The pound to Canadian dollar exchange rate has seen a big twist and turn lately as the market struggles to price into expectations the changes in sentiment towards both the Canadian dollar and the pound. The Canadian dollar has risen as investors feel a stronger and higher price of oil will boost the Canadian economy in the longer-term. The pound has also struggled as investors step back from the high expectations that have been placed into the market relating to interest rates. The general belief...
Pound unsteady against the Canadian Dollar as Brexit vote just a week away

What can we expect next for GBPCAD exchange rates?

The pound to Canadian dollar has changed dramatically in the last month principally as the Canadian dollar strengthens on the back of a much higher price of oil. The expectation is that the price of oil could rise even further in the coming weeks as investors strive to recalculate the overall values given new information on where this important commodity may go. Canada's main export is oil which is why the value of the Loonie dollar is so heavily influenced by changes in the price...