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Forecast for the Week

Pound to Euro forecast Will Sterling make further gains against the Euro next week?

Could sterling be set for further losses against the euro?

Pound to euro rate after breakdown in cross-party talks The pound to euro rate continues to be largely dictated by Brexit. We recently witnessed GBP/EUR reach as high as the mid 1.17s, only around half a cent away from a two year high. The pound's gains were based on the fact that Theresa May was trying to put together a deal that would be accepted by the Labour Party. The deal would mean the UK would have access to the customs union until the next...
Pound to Canadian Dollar outlook What can we expect this week on GBPCAD?

NAFTA talks drag on which causes the Canadian Dollar to weaken against the Pound

The Canadian Dollar has once again come under pressure against the Pound as the three countries involved in the NAFTA negotiations are not close to a deal yet. US Congress appears to be running out of time at the moment in order to approve a new deal and with the Mexican election just over 3 weeks away I think it will be difficult to get things organised in the short term and this uncertainty is causing a problem for the Canadian Dollar. According to one source...
Trump trade optimism sends the Pound to AUD rate lower

Canadian Dollar slips as Trump makes new NAFTA surprise!

The Canadian Dollar has lost value today after a surprise comment from the US' White House chief economic adviser. Larry Kudlow is chief economic adviser to the White House so he has a close relationship with US President Donald Trump. Today Kudlow confirmed that Trump wishes to negotiate separate bilateral deals with Mexico and Canada. The reason for the market reaction is due to this coming as a surprise, and also the change it will bring if it goes ahead. The current plan in place...

Could UK Retail Sales help to increase the Pound vs the Canadian Dollar?

The Canadian Dollar has continued to strengthen during the course of this week against the Pound and it appears to be following the same trend as what is also happening with GBPUSD rates. Oil prices have been on the rise and the highest they have been for a few years and as Canada is such a huge oil exporter this is likely to provide the Canadian Dollar with a lot of strength as it should in theory help to reduce the Trade Balance and increase...
Pound to Canadian Dollar outlook What can we expect this week on GBPCAD?

Will the Pound have a positive end to the week against the Canadian Dollar?

In the last few days the Canadian Dollar has improved against the Pound after the Bank of England decided to once again keep interest rates on hold. The split was 7-2 in favour of keeping rates the same which came as no surprise but the real surprise was a huge downgrading of the UK's growth forecasts for 2018. Previously in February the forecast for this year was 1.8% but since then the forecast was now been changed to 1.4% and this caused a big sell...
GBP/CAD Rates Fall Back Below 1.75 During Friday's Trading

Stronger Canadian Dollar as oil price strengthens, will the strong run for oil help...

The Loonie (Canadian Dollar) has begun the week in strong fashion after gaining on the US Dollar during today's trading session. After a few very strong weeks for the Greenback (US Dollar) it's currently heading for its 4th successive day of losses, with some believing that the bull run for the US Dollar is running out of steam. One of the main reasons for CAD's strength apart from benefiting from the weaker Dollar is the stronger oil price. It's been increasing in value recently for a...
Could Brexit developments and the Canadian Interest Rate Decision cause movement for GBPCAD later today?

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...
Loonie Dollar stronger on Oil fears

Canadian Dollar strengthen as oil edges higher, where to next for CAD exchange rates?

The Canadian Dollar has strengthened throughout today's trading session against most major currency pairs. The reasons for its gains can be put down to positive economic data along with strengthening commodity prices, which is important for the Canadian economy. Oil is one of the major exports for Canada, so seeing the price of oil increase and therefore, the Canadian Dollar isn't unusual. The reasons for the boost to oils value can be put down to increased expectations of US sanctions on Iran. There has also...
Pound to Canadian dollar predictions: What to expect this month

Bank of Canada dovish which leads to Canadian Dollar weakness – NAFTA concerns starting...

We have seen further weakness for the Canadian Dollar during trading today following on from the Bank of Canada Governor Poloz offering a fairly dovish view on the economy in a speech last night. The NAFTA agreement or more importantly the uncertainty behind it is starting to weigh heavily on business confidence in Canada, along with the continued strength of the U.S Dollar which is also leading to the Canadian Dollar weakening. The rise for U.S treasury 2-year notes compared to Canadian 2-year notes is now...
Canadian Dollar Strength following Bank of Canada Rate Hike

Bank of Canada leave interest rates on hold

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...