Canadian Economic data

NAFTA Negotiations are set to be problematic. The North American Free Trade agreement is key to the health of the Canadian economy. The agreement between the US, Canada and Mexico is under threat as US President , Donald Trump feels the deal is nowhere near as beneficial as it should be to the US. Canada is heavily reliant on the US purchasing it’s exports, if the deal is changed or indeed axed this could have a significant impact on the Canadian economy and in turn the...

Those of our readers following the Canadian Dollars value will be aware of the potential downsides to the currency's value should there be amendments to the NAFTA agreement. Seventy percent of the countries trade is with the US so if US President, Donald Trump does force through amendments to the current North American Free Trade Agreement (NAFTA) like he's warned, I think there's a chance we could see the Canadian Dollar drop in value. There has been some relief for the Loonie over the past week...

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...

This morning could be important for Sterling exchange rates as UK trade balance figures for the Pound are due to be released. UK Trade balance figures are important because they will demonstrate the gap between what Britain buys from the rest of the world versus what it sells back. This update comes at a time that major Swiss lender, UBS have highlighted the growing imbalance in the UK's trade book which is the highest of all G7 countries. Due to the uncertainty surrounding the UK economy...

Over the next two days Canada are set to release a host of economic data releases which could have an impact on Canadian dollar exchange rates.  Today at 1.30pm, New Housing Price Index numbers released by the Statistics of Canada which measures selling prices of new residential houses is set to be released. Over the last 2 years this number has been on the rise which is a positive for the Canadian dollar. The release itself doesn't normally cause major swings on Canadian dollar exchange...

GBP/CAD rates of exchange are now holding steady after a few days of heavy falls on the currency markets. Previously GBP/CAD had been tumbling following revelations of the gains made by the Leave camp in the upcoming Referendum. Gambling companies such as Betfair have slashed the odds on the likelihood of the UK remaining in the EU, when previously this had been an 86% chance we would remain, this is now down to 64%. The polls show an even dearer picture, with the poll of polls...

The Pound appears to be recovering from its 2017 lows that it hit in August as the GBP/CAD pair are now trading firmly in the 1.60's. Brexit uncertainties seem to have been shelved for now by the financial markets as Sterling is also recovering against many major currency pairs with the Pound to Euro rate hitting an 10-week high this week which seems to have boosted sentiment surrounding the Pound. On Friday this week there will be the release of UK GDP figures for both the...

The North Atlantic Free Trade Agreement has been a hot topic over the last few months and the uncertainty surrounding the issue has caused the Canadian Dollar to weaken recently. US President Donald Trump has stated in the deal 'Canada has treated us very, very unfairly when it comes to lumber and timber.' However, Trade Chief Robert Lighthizer has said that things are progressing and 'we're making real headway.' Trump has been very outspoken about the trade deal but Lighthizer appears to be a lot...

Is a Rate hike justified by the BOC? This afternoon is the Bank of Canada (BOC) interest rate decision. The expectations are that there will be a hike from 1% to 1.25%. Bank of Canada Governor, Stephen Poloz has stated a change in interest rate would be data dependent. If this is the case then  a rate hike should occur today. We have recently witnessed the best unemployment data in four decades. Personally, I am of the opinion a rate hike in the current climate is...

This afternoon the Bank of Canada left their interest rate on hold at 1.25%. At the press conference Governor Stephen Poloz seemed to be fairly upbeat as he confirmed interest rates could be hiked in the upcoming months as he expects a boost from increased foreign trade and higher wages in the upcoming months. However the Governor did announce that the uncertainty surrounding the NAFTA agreement is still a concern even though the prospects of a revamped NAFTA agreement looks more likely. Earlier in the...