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Forecast for the Week

GBP to CAD forecast: Will the Canadian Dollar continue to strengthen throughout 2019?

Wildfire causes Canadian Dollar Weakness against Sterling (Tom Holian)

The ongoing wildfires currently hitting parts of Canada are causing huge problems for the economy. As Canada is heavily reliant on oil the fires are getting very close to the oil sands region and this has seen the closure of various plants in the region. Indeed, the closure of the plants has meant Canada has reduced its oil supply by as much as 1 million barrels per day and although the rains have started to fall, which hopefully will see an end to the problems we are...
Pound to Canadian Dollar forecast CAD closing in on a two year high against GBP

Uncertain time ahead for Sterling vs Canadian Dollar exchange rates in the run up...

Sterling fell against most major currencies during yesterday's trading session apart from against the Canadian Dollar. The Canadian Dollar had been improving vs Sterling over the last few days as oil prices went up during that period. However, the price of Brent Crude oil fell for the third day in a row and the price of a barrel fell below US$50. However, the on-going uncertainty concerning the upcoming vote on whether or not the UK will vote to Remain or Leave the European Union on June...
GBPEUR rate remains steady as markets await the Autumn Budget

GBPCAD rates will not remain flat for long!

The pound to Canadian dollar rate has been fairly flat today on a non-eventful day that has seen the rate lingering between 1.6313 and 1.6393. The Canadian data on offer showed Imports and Exports fairly steady whilst the Ivery Manufacturing Index survey showed us a small decline helping loosen the Canadian dollar against the pound somewhat. The main headlines today focus on the UK budget, I am personally suspicious of the claims by the UK Chancellor that UK growth will be as strong as...
Pound to Canadian Dollar forecast Best time to sell Canadian Dollars for Pounds since October 2017

Has the Canadian Dollar ‘bottomed out’ against other Currencies? What to expect…

We are still close to a 6 year high against the Canadian Dollar. In January the rates above 1.93 were an anomaly from market fears concerning rapidly falling oil prices and the dire situation for Canadian unemployment. At the start of May rates had fallen due to an expected hung parliament in the UK; these fears were proved to be grossly exaggerated. We are now in a period of recovery for GBP-CAD rates, but can they advance any further? The long term view seems to...
Pound to Canadian Dollar exchange rate forecast Will GBPCAD rates fall further?

Buying Canadian Dollar rates pushing higher ahead of Super Thursday (Joshua Privett)

Buying Canadian Dollar rates have seen a comfortable rise on the exchange rate markets ahead of Super Thursday, the moniker given to describe one of the most important days on Sterling's calendar each month. This is the release of the Bank of England's interest rate decision, monetary policy statement, and subsequent interest rate decision and quarterly inflation report. Each of these data releases in their own right has the potential to seriously change Sterling's value against most of its counterparts. All of them released at once is...
Pound to Canadian dollar forecast Canadian Unemployment Rate Falls

GBP/CAD Rates hit 1.97! (Daniel Wright)

Rates continue to surprise as more and more capital is thrown into the Pound following Greece's popular rejection of their creditor's bailout claims. As such, the Pound has strengthened against all major currencies today. With a high of 1.975 reached as I write this, I would not be surprised to see 1.98 reached overnight in the UK while North American markets continue to trade and abandon their Euros for Pounds. It was a shame for CAD sellers to hear, as positive data was released today concerning...

Canadian dollar boosted – Canada dodges Trump’s metal tariff

The Canadian Dollar has gained in value over the past few days against most major currency pairs, after some positive news for both Canada and Mexico has been announced regarding the impending US metals tariffs. US President, Donald Trump recently threatened to impose tariffs on metals imported into the US from all countries. His plans consist of a 25% tariff on steel imports and a 10% tariff on aluminium imports which would be very bad news for Canada which is why the currency lost value...

GBP-CAD rates back to 1.95 as Sterling loses value (Joshua Privett)

Those who were hoping that GBP-CAD rates were journeying towards 2.0 received a bit of a shock today, as rates dropped 2 cents in a single day of trading. There has been a huge volume of capital pumped into Sterling as many investors holding Euros panicked about a potential Grexit. Sterling is considered a safe-haven currency, so the continued buying of GBP artificially inflated the value of the Pound - causing gains against most major currencies. Now the opposite is happening. With positive moves in the...
Pound to Canadian Dollar forecast Best time to sell Canadian Dollars for Pounds since October 2017

Pound to Canadian Dollar exchange rates see marginal rise to begin the week (Joshua...

Some of the ground lost on Pound to Canadian Dollar exchange rates last week have since been eclipsed with the Pound rallying to begin the week against most major currencies. Last week the Canadian Dollar had a sudden burst of strength following the US attack on Syria. Increased escalation of conflict in the region made many worried about the potential ramifications for oil supply transport in the future. However, now that it has been explicit that this was effectively a single instance of action, the...
Pound to Canadian dollar rates fall lower as Brexit intensifies

Flood of data today should affect CAD only indirectly

Ahead of Friday, where we'll get a transparent look into the Canadian economy through the release of their retail sales figures and their inflation data, today will see a flood of data from the EU, the UK and the US, which will see EUR-CAD, GBP-CAD, and USD-CAD experiencing severe volatility. Monetary policy statements will be announced for the UK and US economies. Markets will be looking for some indication about when interest rates will be raised in both economies. Both have had worries about current...