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Forecast for the Week

GBPEUR rate remains steady as markets await the Autumn Budget

Will Trade War’s threaten the Loonie dollar?

GBPCAD rates soared yesterday on Canadian dollar weakness as rhetoric over Trump's proposed import tariffs increased. The initial fears subsided but the rate did rise over 1.80 yesterday as markets were concerned over the potential for the tariffs or any Trade War to threaten the Canadian economy. As a key trade partner for of the United States, Canada would be front of the queue to suffer negative consequences from any Trade War. If you have a transfer buying or selling the pound or Canadian dollar...
Pound to Euro exchange rate forecast European data disappoints, Sterling makes minor gains as inflation creeps above 2%

UK GDP figures come in stronger than expected, GBP/CAD rates spike back up

We are back to where we started on Monday, with GBP/CAD rates holding back up in the high 2.02's following a strong showing by the UK economy in the recent release of GDP figures for the second quarter of 2015. Between April and June initial figures show that the UK economy grew by 0.7%...a surprise as recent figures had shown a contraction last month in certain sectors of the economy, such as retail. Because markets were expecting a poor showing for Sterling, rates journeyed down...
GBPEUR rate remains steady as markets await the Autumn Budget

Could the Pound make further gains vs the Canadian Dollar? (Tom Holian)

Sterling vs the Canadian Dollar has had a strong period towards the end of the week with UK economic data all coming out a lot better than expected which has helped to see the Pound make gains vs the Canadian Dollar. We began Friday morning with stronger than expected UK Industrial & Manufacturing data which gave the Pound a boost against all major currencies including vs the Canadian Dollar. With the Brexit talks currently being held in preparation for the next summit due to be held...
Pound to Canadian Dollar exchange rate GBP fails to make gains against CAD as Brexit and oil prices affect the currency pair

CAD Forecast – BoC Interest Rate Decision Unlikely to Boost CAD’S Value (Mattew Vassallo)

Any clients with a short-term CAD currency exchange requirement will be keeping a close eye on Wednesday’s Bank of Canada (BoC) interest rate decision and subsequent monetary policy statement. The BoC are expected to keep rates on hold at 1.25% and with economic uncertainty around the Canadian economy at record highs, I would be very surprised to see a rate rise even muted under current market conditions. The CAD itself has been under increasing pressure for much of 2018, with heavy losses against Sterling and the...

CAD rates subject to FED decision

CAD exchange rates are likely to see some volatility today following the US interest rate decision. Whilst this event is not in Canada itself, this is expected the be the first interest rate rise since the financial crisis for any country in the Western world, so financial ripples should affect the entirety of the currency markets - including CAD's value. The Canadian Dollar is set to be pulled in either direction from the news - depending upon how much the FED raise rates, or whether they...

What can we expect for GBPCAD rates in January?

The pound has dipped against the Canadian dollar, principally owing to the developments in the price of Oil which has improved lately. The Canadian dollar is known as a commodity currency and it will often react to changes in the price of certain commodities which directly support and influence the Canadian economy. Oil is one of Canada's main exports and a key driver of prices for the Loonie dollar against all the major currencies. The outlook for sterling is actually much more positive following the...

What will effect the Canadian Dollar short term? (Daniel Johnson)

How will the US rate hike effect the Canadian Dollar? The US dollar actually weakened following the rate hike as Fed chair-lady, Janet Yellen had a very cautious tone when addressing the possibility of further rate hikes. Despite the possibility of a further two rates hikes this year, Yellen indicated there would have to be continued improvement in the US economy in order to justify a further hike and also have the firm belief it would not be detrimental to growth. A rise in oil...
Trade Deficit Falls, but does not match expectations

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 rate hits 20 month low could further falls be in store for the Pound

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 forecast Best time to sell Canadian Dollars for Pounds since October 2017

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...