GBP/CAD rates hold at 1.94 as US GDP figures come in as expected (Joshua...
There were no surprises today, as US economic data came in as expected. They have revised down the amount the US actually shrank during the first quarter of 2015 from -0.7% to -0.2%. While this may not sound like much, half a percent of an economy which produces tens of trillions worth of goods every year is more than enough to turn some heads.
We have written a lot recently about about how much the US economy has a knock-on effect on the Canadian economy,...
GBP/CAD rates holding steady in the 1.94’s
Yesterday's data on Durable Goods Orders in the US came in terribly, which weakened the Canadian Dollar enough to bring rates back up into the low 1.94's and remain there.
Durable Goods Orders are a measure of bulk and long-term purchases that can't be filled immediately by the supplier. Such as 20,000 cars or 15 Boeing Planes. Due to the delay in producers being able to supply these orders to the consumer, those who are purchasing must guess what demand would be like in the...
GBP/CAD Rates climbing once more – 1.94 Reached briefly this morning
This kind of volatility is frankly surprising. Most analysts were expecting the rates to settle down after the shock announcements dealt with on this website during Friday's trading session. The rates are moving up because of some poor news expected this afternoon about the long-term projections of the American economy, and their trade relationship with Canada. But to move the rates up by almost two cents in a single morning of trading is disproportionate to how important this data release is frankly. Markets on...
GBP/CAD rates fall as markets digest the news from last week (Daniel Wright)
From briefly hitting 1.95 on Friday, GBP/CAD rates have fallen to 1.93 in a single morning of trading and seem to still be falling. There are a few reasons why, but those who have a Canadian Dollar requirement over the next few months, should consider their options. It would take quite a monumental data release like the one last week to shift rates up to 1.95 again. As we have seen today it is difficult for the rates to even stay at that level...
*Breaking News* – GBP/CAD Rates Soar – Close to 1.95 and climbing! (Joshua Privett)
Shock news as severely poor Retail Sales figures for the Canadian economy came in this afternoon. The consensus among analysts was to expect a 0.7% increase for sales in the retail sector, instead a contraction of 0.1% was recorded. GBP/CAD rates are now at a 7 year high, surpassing the previous 6 year highs recorded last month.
Inflation data came in much more positively than expected. For the next year it had previously been forecasted at 2.1% but has now been revised higher to 2.2%. While this...
GBP/CAD Best rates – CAD strengthens as UK trading markets open
This morning the markets have been open a mere few minutes and those looking to buy CAD have already lost half a cent on the exchange rate. Even with all the capital flying into Sterling with the potential of a Grexit in the Eurozone, the Canadian Dollar is one of the few major currencies to be strengthening against the Pound at the moment.
This suggests that the data to be released at 1:30pm GMT today will likely be more positive than expected. The post below...
GBP/CAD rates peaking ahead of data releases tomorrow? (Daniel Wright)
GBP/CAD rates rocketed and settled just below 1.94 as markets were astounded by the rally Sterling had on Wednesday following strong wage growth data. The reason why the effect was so strong was two fold.
Firstly, wage growth is arguably the most important factor Central Banks look at when deciding the base interest rate for an economy. These current and historically low interest rates were introduced following the financial crisis to stimulate spending and keep the economy going in the depths of recession. Why save...
GBP/CAD Rates almost hit 1.94! (Joshua Privett)
Yesterday was an extraordinary day for Sterling. Most analysts were expecting the FED interest rate decision to govern Canadian Dollar rates. As the US is Canada's largest trading partner, any important economic information released from there has an indirect effect on Canadian Dollar value. But rather than poor US data weakening the CAD, it was strong UK data which increased the value of the Pound across the board against all major currencies.
The dark horse data release that no analysts had even hinted at, was...
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...
GBP-CAD Rises following poor shipping data (Daniel Wright)
It seems that the post below was right to point out that the data today would be significant. It seems that the Candian economy has not had enough time to successfully diversify, and as such, shipping was down more than 2% last month, as the Canadian economy still struggles to revitalise its export base.
While efforts have been made to diversify the economy following the prolonged slump in oil prices throughout the world economy, it seems it is not yet translating into an equally profitable sector in...
