Canadian Dollar Saved by Inflation Target Being Met but Outlook Looks Worrying

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...
How Is COVID-19 Effecting GBP to CAD Exchange Rate?

Bank of Canada members to set the scene for the Canadian Dollar as the...

Following on from a fairly flat day for Canadian Dollar exchange rates we have a few points of note for you to keep an eye out for if you have Canadian Dollars to exchange in the near future. Two members of the Bank of Canada are speaking today, Governor Poloz is speaking shortly and later on in the trading day we also have BOC Deputy Lane speaking later in the afternoon. Poloz is not expected to raise any large movements, as he speaks at the unveiling of...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

The impact of Article 50 on GBPCAD exchange rates (Dayle Littlejohn

Now that UK Prime Minister Theresa May has triggered Article 50 the question is where next for GBPCAD exchange rates? Yesterday the pound didn't show a steep decline that many economists had predicted and actually rates have dropped by only 1 cent since the Prime Minister sent the letter to Brussels stating the UK would be starting the process of leaving the European Union. Now that the Conservative Government have confirmed they will be giving a running commentary of how negotiations are unfolding, I expect...
Will Pound to Euro Rates Gain in September?

Brexit still key factor in GBP/CAD buoyancy levels (Daniel Johnson)

Brexit Update Theresa May has warned the House of Lords that if Parliament have the opportunity to have the final say on Brexit it could be detrimental to the deal struck. If parliament are given the right to vote it would give EU negotiators further strength. Many peers at The House of Lords are expected to move against May's wishes and demand that parliament will get to vote on the final bill. May's spokesman has stated "If we are in a position where any deal negotiated by...
Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

Canadian GDP (Growth) figures key for how we see CAD end the week

It has not been a great week for the Canadian Dollar against most majors, seeing a slight dip in value over the course of the week. The Canadian Dollar was actually the worst performing of all the major currencies on Tuesday and it does appear that investors have slight concerns on how growth figures (released tomorrow) are due to come out. Expectations are for month on month figures for December to post a figure of a mere 0.1% growth from 0.4% last time around, which would more...
Pound to Canadian Dollar Remains Steady in 1.7479 and 1.7595 Range

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...
Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

GBP/CAD rates catapulted back up to 1.95! (Joshua Privett)

A multitude of factors have come together today to allow the Pound to gain a further 2.5 cents against the Canadian Dollar in a single day of trading. To put this in perspective, between the high and the low of today a $200,000 purchase was £1,300 cheaper to achieve on a well timed transfer! Firstly, investors fearful of a volatile Greek crisis has moved into safer currencies such as Sterling, which has artificially boosted its value due to increased demand. This began immediately this morning. Secondly, disappointing...
Canadian Dollar Suffers Seven-Week Low Following the Spread of the Coronavirus

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...
Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

What can we expect from GBPCAD in the next week?

The pound has had a volatile few weeks against the Canadian dollar with rates ranging between 1.66 and 1.70 as investors take stock of the upcoming US interest rate hike and also developments in the UK political situation. Current market predictions centre on a stronger pound as Brexit negotiations gain some momentum and the worst fears for the UK and the pound fail to materialise. GBPCAD has hit some fresh highs touching almost 1.70 of late which is some of the best rates we have...
Will Pound to Euro Rates Gain in September?

The Trump Effect on the Canadian Dollar vs Sterling (Tom Holian)

US president Donald Trump looks set to introduce a new tax of 10% on Canadian goods coming into the US which has caused problems for exporters north of the border as well as the Canadian Dollar vs Sterling. Many businesses are even now considering moving their premises into the US in order to remove themselves from this potential problem. The central Bank of Canada have spoken out on the issue and have said it will cause a problem if Canadian companies look to move production into...