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Forecast for the Week

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...
Pound Sterling exchange rate falls to 1.12s against the Euro on latest Brexit developments could GBPEUR rates fall further?

GBP/CAD rates fall as Sterling loses value against most currencies

It seems that the correction happened sooner than expected. However, it is not by much. We are still comfortably in the 1.97's for GBP/CAD rates. Sterling's fall is mainly due to the tempting buying opportunities available now across the board. So those holding Sterling are buying up other currencies while they are cheap, which in turn lowers those rates as the purchased currency strengthens. This is nothing to do with positive progression in the talks between Greece and her creditors. Overnight there was news announced about the...
GBPEUR rate remains steady as markets await the Autumn Budget

Sterling vs Canadian Dollar hits 15 month low but for how long? (Tom Holian)

This week Sterling has fallen to its lowest level against the Canadian Dollar after the price of Brent crude oil rose to over US$46 per barrel. As such a big net exporter of oil which is its biggest industry any price increase will often help to strengthen the Canadian Dollar exchange rate. Oil production in Kuwait appears to have ground to a halt after oil workers protested against government cutbacks so less supply caused the spike in the cost per barrel. Tomorrow afternoon could provide us with...
Pound to Euro forecast Sterling slides against major currencies as Brexit negotiations stall

Sterling continues to decline as markets await Brexit decision, will the Pound continue to...

The Pound continues to come under pressure against the Canadian Dollar as foreign exchange markets continue to digest the much talked about interview of UK PM, Theresa May over the past weekend. The markets have concluded that May's comments alluded to a preference for a Hard Brexit, whereby the government will focus more on the control of immigration as opposed to making the retention of the UK's access to the single market a priority. Ever since the UK electorates vote in favour of a 'Brexit', markets...
Trade Deficit Falls, but does not match expectations

GBP/CAD rates hit 1.96 after Greek vote (Joshua Privett)

The amount of money flowing into the UK Pound at the moment is incredible. UK markets have not even opened yet, but from Japan across to Eastern Europe the markets which have been open are quickly selling off their Euros in a frenzy following the referendum in Greece. In a resounding 61% majority to reject the terms of the bailout set out by Greece's creditors, the stage has been set for the latest set of talks to see if Greece will stay in the...
Trade Deficit Falls, but does not match expectations

GBP/CAD rates soar following Iran negotiations

Another surprise has put a spanner in the works for those holding Canadian Dollars and looking to sell. After years of fruitless negotiations, it was announced that sanctions would finally be lifted again Iran in exchange for them scaling back their efforts to become a nuclear power. By lifting these sanctions, the signficant amounts of oil in Iran will soon be available for purchase on the world market. This in turn has lowered oil prices, reversing all of the gains of the past few months which...
GBPEUR rate remains steady as markets await the Autumn Budget

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...
Pound to Canadian Dollar predictions: Factors that will impact Pound to Canadian Dollar exchange rates

GBP/CAD rates hold steady in the low 1.96’s

It seems markets are still digesting the mammoth swings which occurred yesterday for the Canadian Dollar. It seems Canada started the second quarter much like it started the first quarter of 2015, in recession. The first quarter saw an annualized rate of recession at -0.6%, and now we have begun the second seeing an initial contraction of -0.1%. Recession is defined by two successive quarters in a row of economic contraction, and Canada is now only a few months away from being in this category. Policymakers...
Pound to Canadian Dollar exchange rate Volatility expected for GBPCAD rates ahead of Canadian general election

CAD the focus for the week

Canadian Dollar is expected to strengthen today, and GBP/CAD to drop, following strong foreign investment into the economy during the month of July. The slashing of interest rates last month meant credit was much cheaper, so domestic and foreign investors alike are buying CAD up while it is weak. The real question is when will this start to show a boost economic performance for Canada?
Pound to Canadian Dollar exchange rate Global trade tensions and Brexit to drive GBPCAD rates

GBP/CAD soars upwards

The Canadian Dollar's value changed little today, with few economic releases noted and no significant political events CAD enjoyed a stable start to the week. The exception to this rule was GBP/CAD rates which rose by more than 1% in a single trading day, with lows of 2.011 and highs of 2.035 recorded. GBP/CAD gained a welcome boost after weeks of losing ground from Sterling weakness as well as CAD strength. The main reason for Sterling strength across the board today has come from the unexpected...