GBPCAD

Heading into a new week, the pound to Canadian dollar exchange rates are favouring the upside following the release of the UK’s factory output figures which showed a spike to a 10-month high. This has boosted GBP as the post-election rebound that investors had hoped for appears to be holding weight. Meanwhile the Canadian dollar has suffered once again at the hand of the coronavirus. Rising fears came after South Korea announced a state of emergency. As a result, the price of oil sunk,...

Pound sterling has been limited this week, and the market is predicting that the currency could be slow to regain the initiative over the Canadian dollar in the months to come. This forecast came after CIBC Capital Markets in Canada downgraded its predictions for the GBP/CAD exchange rate on Thursday as lingering concerns about the UK economic outlook persisted to haunt the Sterling. Meanwhile, the Canadian dollar has benefitted from an easing in market risk appetite suppression. Following optimistic news from China which saw...

The Canadian dollar was up on Wednesday following the announcement of rising crude oil prices. The fears surrounding the coronavirus infection have once again begun to mute, allowing the market’s risk appetite to return. For several weeks the virus has limited the gains made by the ‘loonie’ as investors feared the slump in oil demand as China’s economy took a hit. However, with oil prices now on the rise, CAD saw itself trade at CA$1.3226 against the USD yesterday, suggesting that the fears surrounding...

Tuesday did little to help the Canadian dollar as it kicked off the second trading day of the week. Apple released comments which affected trade in the Canadian dollar. The trillion-dollar tech company downgraded its earnings outlook for Q1 2020 which sent global finance markets into a frenzy. Apple noted that the coronavirus had constrained the production of iPhones, causing shortages which would temporarily affect revenues worldwide. Investors were quick to spot that if the coronavirus was having such an effect on Apple’s bottom...

As the new trading week got underway yesterday, the pound saw a drop against CAD, following an increase in market risk appetite. The increase in the market’s risk appetite arrived after fears concerning the Coronavirus (Covid-19) decreased after signs of a slowdown in infection rate were displayed by China. This has given the market hope that the impact caused by the disease may slowly be concluding as the CAD looks to edge its way back up in the market rankings as risk appetite returns,...

To start the week, the Canadian dollar looks to be on the front-foot following a recent surge in oil prices last week. On Monday, the CAD felt the pressure as oil prices fell on a continuing drop in Chinese demand. The spread of the coronavirus has caused the oil demand to decline, and since its peak in January, demand for the global commodity from the world’s largest importer plummeted by more than 20%. But with fears of the virus muting, the demand for oil...

Canadian Dollar Threatened by Rail Protests Which Cripple Trade Logistics GBP Hopes Injection of Public Spending Can Lift the British Economy and Mute Brexit Worries The Canadian dollar has come under threat by a new menace to the Canadian economy this week that isn’t involved with the coronavirus outbreak. Anti-pipeline protestors have demonstrated around rail lines near Belleville, Ontario and New Hazelton, B.C which has prompted CN Rail to temporarily shut-down parts of its network. This has caused havoc to the rail networks and...

The Canadian dollar has been helped so far this week as the global risk sentiment rose. The risk appetite for investors has increased after developments in China which has lowered the fears surrounding the coronavirus. With the virus knocking a large chunk out of the Canadian dollar’s support at the start of the outbreak, the optimism was welcomed with open arms. However, the World Health Organisation (WHO) has noted that it would not be wise to get too optimistic as the disease is still...

GBP Suffers After Yesterdays Weak Data Releases Brexit Still Haunts the GBP, Could It Be Too Much to Handle? CAD Continues to Be Held Back by Coronavirus Contact Us GBP has struggled over the past couple of weeks, with Brexit fears being re-ignited as the EU-UK negotiations got underway at the beginning of the month. A recent run of poor economic data has also not helped GBP gain any support as the outlook for the economy looks dreary. Data releases yesterday only piled on...

Heading into the second day of the trading week, the GBPCAD interbank exchange rate finished up yesterday at around CA$1.7209. This was positive news for the GBP, but not so much for the Canadian dollar. The price of oil continues to be threatened by the heightened coronavirus fears, and with a lack of positive news since the claimed breakthrough treatment from Chinese scientists, the fear continues to mount. Meanwhile, the GBP will look towards its Gross Domestic Product (GDP) and manufacturing data releases later...