Home Canadian Economic data

Canadian Economic data

Pound to Euro Surges to 3-Week High

Pound to Canadian Dollar rates still rising (Joshua Privett)

Like the US Dollar the Canadian Dollar is currently suffering against the Pound, with Pound to Canadian Dollar exchange rates breaching new 5 month highs. The Pound's rally, if you haven't been in tune with the news this week, has been attributed to the sudden and euphoric announcement of an election in the UK. Contrary to what many are looking at, this rally is not simply because markets prefer a Conservative government, which is currently performing 24 points above what Labour is managing to put up...
Sterling Declines Ahead of EU-UK Trade Negotiations

Canadian dollar boosted – Canada dodges Trump’s metal tariff

The Canadian Dollar has gained in value over the past few days against most major currency pairs, after some positive news for both Canada and Mexico has been announced regarding the impending US metals tariffs. US President, Donald Trump recently threatened to impose tariffs on metals imported into the US from all countries. His plans consist of a 25% tariff on steel imports and a 10% tariff on aluminium imports which would be very bad news for Canada which is why the currency lost value...
Pound to Euro Surges to 3-Week High

Pound wobbly against Canadian Dollar as we await UK inflation data (Joshua Privett)

Pound to Canadian Dollar exchange rates have experienced a wobbly beginning to the day as we wait for UK inflation data to be released this morning. Initially Asian trading brought in some issues and then when the baton was passed to European trading this morning when it opened the deflation on the exchange rates became much more visible. The reason why inflation data at the moment is having an exaggerated effect even before the news is released, can be explained with an assessment of recent Bank...
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...
Pound Sterling Forecast – Could the Pound Fall Lower Still?

Sterling slips as weak inflation data puts a question mark over a Bank of...

Those hoping the Pound would receive a boost this morning were left disappointed as this weeks key piece of economic data out of the UK failed to meet expectations. The data released this morning at 9.30am showed that the rate of Inflation has surprisingly dropped over the last month, and this has lowered the chances of an interest rate hike from the Bank of England. Many had expected to see the BoE look into raising rates in order to weather the negative effects on the UK...

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...
Sterling Declines Ahead of EU-UK Trade Negotiations

Will the Canadain dollar continue to fall?

In recent months the Candadian dollar has been under severe pressure due to the ongoing NAFTA negotiations and in recent weeks the fall in global stock markets. A fall in global stock markets has meant that the price of oil has also fallen which has put pressure on the Canadian dollar as oil is Canada's most lucrative export. The Canadian dollar has now lost most of the gains created from the second half of 2017, due to the interest rate hikes from the Bank of...
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...
Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

GBPCAD rates break 1.70 – where next?

I wrote earlier this week about GBPCAD breaking 1.70 and so it has passed. The pound remains under pressure and the Canadian economy will continue to be supported by their main trading partner the US. The Loonie and the Canadian economy have had a rough period with the economy there flagging under the pressure of the Alberta Oil Sands fires plus the knock on impact of this event on their economy. Expectations for the future are that the price of Oil could weaken further...
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...