Canadian Dollar Could Be Shaken up by Coronavirus Impact on the Bank of Canada Outlook

Oil slide reverses CAD gains

The Bank of Canada interest rate decision this afternoon and their monetary policy statement was largely a non-event and was completely overshadowed by slashed oil prices, causing CAD to weaken on the markets. Oil prices were slashed back to the lows of April as forecasted demand for oil over the next few months subsided. This was a combination of increased oil supply from Iran and an increase in US oil stocks by 8 million more barrels than previously estimated. The more than 1% gain for CAD against its...
Pound to Canadian Dollar Outlook: Investors Favour Upside Following GBP Strength Boost

Where next for CAD? (Daniel Johnson)

Could we see further gains for CAD? The Canadian dollar has performed well at the start of November, dropping as low as 1.65 against Sterling. Although there are worries surrounding trade between the US and Canada (the US is Canada's biggest trade partner)  I am still of the opinion there could be further losses for the pound. The major threat for Sterling short term is a mutiny within the conservative party. There are now as many as forty MP's who are willing to put forward a...
Pound to Canadian Dollar Outlook: Investors Favour Upside Following GBP Strength Boost

Will GBP continue to rebound against CAD? (Joseph Wright)

A quick look at a 1 month chart on GBPCAD is encouraging for potential Sterling sellers, as since the middle of April the Pound has been steadily gaining with GBPCAD now trading  5 cents higher at 1.8606 at the central level. Despite the Pounds recent rebound against a basket of other major currencies beginning to fizzle out, GBP’s current relationship with CAD is somewhat different as the Loonie is being pushed downwards for its own reasons and this has cancelled out any Sterling weakness over...
Pound to Canadian Dollar Exchange Rate: CAD Unfolds on Low Oil Prices but Sees Off Struggling GBP

When is the best time to buy Canadian dollars?

The pound to Canadian dollar exchange rate had been improving at a rapid pace, improving in 2018 by over 14 cents presenting some of the best rates to buy Canadian dollars since the Referendum. The overall expectations for the pound are to see further improvements as we get further clarification on the Brexit and also interest rates. The Canadian dollar has been strengthening owing to the rising price of oil which has seen the Canadian dollar strengthen owing to oil being one of its major exports. The...
Pound to Canadian Dollar exchange rate Global trade tensions and Brexit to drive GBPCAD rates

Sterling vs Canadian Dollar hits best rate in 2017 (Tom Holian)

The Pound has hit its highest level against the Canadian Dollar since December as the Canadian Dollar struggles following the recent fall in value for oil prices. There appears to be a global surplus of oil at the moment and as Canada is such a big exporter any fall in demand for oil negatively affects the price of the Canadian Dollar. The Canadian Dollar has been the victim of the uncertainty between what is happening in the US and potentially with trade discussions failing then this...
Pound to Canadian Dollar exchange rate Global trade tensions and Brexit to drive GBPCAD rates

Will GBPCAD rise above 1.80 or sink below 1.70?

GBPCAD rates have improved to some of the best levels since the Referendum as the pound is looking more confident going into the Brexit negotiations. Overall expectations for the pound are much improved as investors eye a softer Brexit which should retain access to the Single Market or the Customs Union. Whilst the Canadian dollar may well strengthen owing to some fundamental reasons which drive its performance, sterling looks to have the upper hand for now. Oil prices and the prospect of further interest rate...
Canadian Dollar Receives Boost from Uptick in Oil Prices as Consumer Data Shows Little Growth

CAD value determined externally

Until Friday this week, with very little data released on the Canadian economy, CAD value will largely be governed by forces outside of its control - such as the US interest rate decision on Wednesday, as well as further oil price fluctuations. The focus pairing for the week, as the paragraph above suggests, will be USD/CAD as the world watches to see if interest rates in it's largest economy will finally rise for the first time since the financial crisis. However, data released today on the...
Will the GBP Recover Against the EUR?

Will uncertainty surrounding the UK government push the Pound lower? (Joseph Wright)

The Pound to Canadian Dollar rate, despite trading within quite a wide range over the past year is actually flat on an annualised basis, after the Pound has lost quite a lot of value in recent weeks due to mounting pressure on the UK's Prime Minister. There are apparently dozens of Conservative MP's that are prepared to sign a vote of no-confidence against the current PM which is putting pressure on the Pounds value, and recently it's fallen against the majority of major currency pairs. At...
The Canadian Dollar Celebrates USMCA Deal but Investors Are Cautious Following Poor Jobs

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...
Canadian Dollar Suffers Seven-Week Low Following the Spread of the Coronavirus

GBP/CAD rates holding steady despite Referendum pressure (Joshua Privett)

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...