Poor Canadian economic data sinks its strength

Strong GBP Prepares for Defining Week with General Election Whilst Canadian Dollar Digests Poor...

The GBP ended trading last week in a strong position. Markets were confident that Boris Johnson and his Conservative party is very likely to pull off a majority win in the elections. But the Pound could soften in the days running up to the election as doubt creeps in. Meanwhile, the Canadian Dollar is still attempting to digest recent poor economic data, namely the November jobs report. Pound Could Soften Early This Week as Doubt Sets in Ahead of the Election For the GBP, this week...
GBP/CAD Exchange Rate Holds Steady as Investors Wait for US Fed Rate Decision and UK Election Outcome

The Canadian Dollar Has Enough Resilience to Set Its Own Path in Monetary Policy

Yesterday, the Canadian Dollar was taking in the gains that it saw on Wednesday, following a positive response from the BoC’s interest rate decisions. The meeting saw the BoC keep the policy rate unchanged, for the ninth straight time. The bank has claimed that CAD’s growth is poised in a position to accelerate over the next couple of years and believe that the best direction would be to set its ‘own course’ going into the new year. Confidence Grows in the Canadian Dollar Following Recent...
The Canadian Dollar Celebrates USMCA Deal but Investors Are Cautious Following Poor Jobs

Huge Boost for the Canadian Dollar as BoC Announces Hawkish Approach to Future Policies

The awaited interest rate decision meeting from the BoC occurred yesterday, many noted that the decisions and outcomes of the meeting was likely to shape the future direction for the Bank of Canada and the Canadian economy. A hawkish tone was given off by the members of the meeting which has sent CAD soaring after a previous bad run. BoC Less Downbeat and More Optimistic for the Outlook of CAD Growth The Canadian Dollar soared yesterday after the BoC meeting surprised markets with a hawkish assessment...
Pound to Canadian Dollar Exchange Rate Recovers Slightly in Downturn of UK Construction Eases Off

Pound to Canadian Dollar Exchange Rate Recovers Slightly in Downturn of UK Construction Eases...

The GBP/CAD exchange rate rose yesterday morning, with the pairing trading at around CA$1.7277. The Sterling has crept higher on Tuesday as the UK construction PMI revealed the sector saw the slowest decline in construction output since July. Construction PMIs Boost GBP Slightly but Uncertainty Remains The PMIs for the UK construction sector edged up slightly to 45.3 in November to Octobers previous 44.2. However, the sector saw a sharp decline in new work. On top of this, companies continue to remain cautious about...
Poor GDP Data for Canada Weighs on Poor Performing CAD Whilst Trump Wobbles the Trade Deal Tensions

Poor GDP Data for Canada Weighs on Poor Performing CAD Whilst Trump Wobbles the...

The Canadian Dollar has been on a decline for a number of weeks, with little going its way. The release of the Canadian GDP data to start the week saw CAD on the back foot. With GDP dropping for Canada, the economy has taken a hit alongside the confidence from investors. GDP Data Dropped from Previous Report, Canadian Dollar Takes a Hit The release of the Canadian GDP was a negative blow for CAD. With figures dropping sharply from 3.5% to 1.3%. This news has given...
Solid Support for GBP on the Charts Whilst Lingering Boc Cuts Weigh Heavy on CAD

Solid Support for GBP on the Charts Whilst Lingering Boc Cuts Weigh Heavy on...

With the general election around the corner, GBP has faced twists and turns along the way. Reports on the charts suggest solid support for GBP but the upcoming election is proving to be a menace for strength as polls show a Tory popularity decrease across the UK. For CAD, the Bank of Canada (BoC) has decisions to make over their rate cuts which have weighed heavy on the currency as investors lose faith over the strength of the economy in Canada. GBP Has the Charts...
Flat Rate for Canadian Dollar as GDP Data Looms

Flat Rate for Canadian Dollar as GDP Data Looms

The Canadian Dollar has seen its rate flatten towards the end of this week. Today marks the day of the release of the GDP data for Canada. The GDP data is released on a monthly basis and recent performance in the second half of 2010 has been poor. GDP Data Looks to Avoid Recent Trends for 2019 For 2019, the GDP data of Canada has not been inspiring. Soft releases have been seen and this has not convinced economists that the future GDP result will be...
Pound to Canadian Dollar Exchange Rate Recovers Slightly in Downturn of UK Construction Eases Off

Canadian Dollar Receives Upswing Following US Optimism in the Trade Deal with China

The Canadian Dollar received a needed boost yesterday as President Trump had positive comments to make about the deal suggesting that it is in its final phases. This gave a boost to CAD – which is closely linked to the US economies success. The boost saw GBP/CAD exchange rate mute as a previously underperforming CAD caught up to a steady GBP. Positivity Coming out of Both the US and China Camps Regarding the ‘Phase One’ Deal US President Donald Trump spoke to reporters following his high-level...
A Steady CAD Ensues Following a Lift in Wholesale Trading and Gives an Economic Boost

A Steady CAD Ensues Following a Lift in Wholesale Trading and Gives an Economic...

CAD has had a bumpy couple of weeks. In recent news key figures from the BoC delivered separate speeches, that contradicted each other in regard to their monetary policies. One with a dovish approach and the other suggesting this approach was not the proposed direction at all. Since then, speeches from other head figures at the BoC have given back some gains to CAD. CAD appears to be settling following wholesale trade which has given a lift to the Canadian economy. Current State of CAD...
A Steady Canadian Dollar Ensues Following a Lift in Wholesale Trading and Gives an Economic Boost

A Steady Canadian Dollar Ensues Following a Lift in Wholesale Trading and Gives an...

The Canadian dollar has had a bumpy couple of weeks. In recent news head figures from the Bank of Canada (BoC) gave speeches, in these speeches they contradicted each other in regard to their monetary policies. One member preferred a dovish approach and the other suggesting this approach was not the proposed direction at all. Since then, speeches from other head figures at the BoC have arisen which have given back some gains to the Canadian dollar. The CAD appears to be settling following...