Canadian Dollar Strength!
The Canadian dollar continues to maintain the higher ground against most of the major currencies as recent developments drive the Canadian dollar higher. After the surprise interest rate hike from the Bank of Canada this month the dollar has received yet another boost. The Canadian economy has certainly proved itself to be particularly strong which is being acted upon by the Bank of Canada. Normally interest rate increases are good for the currency concerned as investors start moving funds in to the dollar seeking...
Pound to Canadian Dollar rate drops as Bank of England governor disappoints the markets...
Those of our readers and clients planning on exchanging their Pounds into Canadian Dollars at better exchange rates have been disappointed today, as the Governor of the Bank of England, Mark Carney has disappointed the markets during an early morning speech earlier today.
Many had hoped of an interest rate hike, which would most likely of resulted in an upward movement for the Pound, but he quelled hopes early into his speech when he said that the BoE would be willing to overlook the increasing...
Sterling strength continues from yesterday…CAD falls from negative long term projections (Joshua Privett)
The surprises continued from yesterday's positive UK economic data releases. Our GDP growth for the first 3 months of 2015 came in a full 0.2% higher than expected. While that may seem miniscule, as this is a measure of entire UK economy, the figure is substantial, and was treated as such by the Currency Markets, with a Sterling rally back up against all major currencies.
Further buying opportunities for the Euro continued today for the same reason. Jeremy Stretch at CIBC World markets believes this was...
Will the Pound continue to climb vs the Canadian Dollar, and what factors could...
The Pound has been climbing against all major currency pairs recently, after sentiment has improved surrounding the UK economy quite dramatically in recent weeks.
It seemed to get a shot in arm a few weeks back when both Spain and the Netherlands announced that they want post-Brexit conditions to remain conducive to business continuing as normal.
Since then hopes of a transitional deal have increased with some major media outlets in the UK jumping the gun and announcing that the deal and the conditions involved had...
GBP/CAD back above 2.0!
GBP/CAD rates have recovered slightly overnight with the news that oil prices dipped marginally after their recent one month highs on the markets.
Like currency movements, oil prices were never meant to move in a straight line. It seems that US stocks of Crude Oil did continue to increase even though production has decreased now that shale and fracking has become less economical. This indicated that demand had fallen slightly as well. With the Canadian Dollar so heavily tied to the value of the oil price,...
GBPCAD rates rise but for how long?
The sterling to Canadian dollar exchange rate has remains reasonably subdued as a stronger pound fights a weaker Canadian dollar. With the latest Opec news stabilising the price of Oil the Canadian dollar remains firm. Recent news on the Brexit Bill which has been well received by the market will continue to stimulate interest in the Canadian dollar but I am of the opinion that over the course of the next few months the rates will be very volatile once again.
Firstly I would suspect...
Pound to Canadian Dollar forecast: 3 political events to know about before swapping Canadian...
You may consider yourself a savvy buyer, especially in the currency purchasing market. But there can sometimes be unseen news or recent events which may alter the going rate of your chosen currency.
The Canadian dollar shares a relationship with the British pound amongst many other currencies. This relationship is altered based on many factors, some in which may determine a great time for you to buy Sterling or show signs that it may be right to hold off a little before departing with your...
Will GBP/CAD Hit 1.90 Ahead of EU Referendum? (Matthew Vassallo)
GBP/CAD rates hit 1.8743 at today’s high, before slipping under 1.87 by close of European trading. The pair have remained fairly static this week, despite gains for Sterling against most of the other major currencies. It seems as though the markets are undecided which way to go, ahead of next month’s EU referendum and with mixed data coming from both economies, we may find the pair range bound between 1.85-1.90 over the coming weeks.
Those clients holding Sterling will be concerned about the damage a...
What can we expect for GBPCAD in 2017?
As is most often the case with the currency it is not a case of which is the strongest but which will be the least weak. In this modern day of low interest rates and loose financial policies individual economies seem to be ever keen to adopt loose monetary policy to get their respective economies back on track. One notable exception is the US dollar but I feel for GBPCAD it will be a balance between which weakens more since both will I feel...
Will GBP/CAD Rates Continue to Rise? (Matthew Vassallo)
Sterling has made significant gains against the CAD over the past 10 days, with the Pound gaining over 8 cents during this period.
This has provided those clients holding Sterling with some much needed respite following some bleak months for the UK economy and an excellent opportunity to sell their sterling positions at a much higher value, than many would have anticipated only a couple of weeks ago.
The Pound has struggled against the uncertainty surrounding the UK’s Brexit and how this will be facilitated following...