GBPEUR rate remains steady as markets await the Autumn Budget

Buying Canadian Dollar rates suddenly appealing following US election (Joshua Privett)

Buying Canadian Dollar rates saw a roller-coaster on the currency markets yesterday following the announcement of Donald Trump as the 45th President of the United States. The relationship and confidence in the US Dollar has significant ripple effects throughout the currency markets, particularly on commodity based currencies such as the Canadian Dollar. A lack of confidence in the currency which underpins most of the world's global debt and is attached to the world's largest economy normally translates into associated weakness in the Canadian Dollar. As a commodity...
Will the gains for the GBP to CAD continue through September?

Can the Canadian dollar hold onto its recent NAFTA gains?

The Canadian dollar has strengthened quite considerably over the past few weeks, both on hopes of the NAFTA deal being agreed and then subsequently on the news of the new arrangement. NAFTA stands for the North American Free Trade Agreement, and it had been in place since 1996, although the current US President Donald Trump had stated his wish to amend the agreement on numerous occasions. The new agreement is now in place between the US, Canada and Mexico and it will now be known...
Will the gains for the GBP to CAD continue through September?

Pound to Canadian dollar forecast – BOC interest rate decision

BOC interest rate decision The Bank of Canada (BOC) interest rate decision will take place this afternoon. Rates are currently set at 1.75% after a rate hike in October 2018. It is expected that rates will be kept on hold and will continue to be for the foreseeable future. The speech by BOC Governor, Stephen Poloz following the decision does have the influence to move the market. If Poloz makes a hint towards a potential rate hike before the end of 2019 we could see Canadian dollar...
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 exchange rate GBP fails to make gains against CAD as Brexit and oil prices affect the currency pair

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,...
Pound to Canadian Dollar exchange rate Outlook for UK economy remains unclear as Boris Johnson settles in to Prime Minister role

GBP/CAD rates remain marooned under 1.70 as Brexit uncertainty continues to affect Sterling’s value

Canadian dollar rate strengthens against the pound GBP has found itself marooned under 1.70 against the CAD for the past few weeks. The on-going Brexit drama and an upturn in the Canadian economy has caused investors to sell-off their GBP currency positions, which in turn has weakened the value of the pound and supported the CAD’s recent rise. With the GBP/CAD pair now trading back under 1.69, investors will be looking at the Conservative party’s current leadership challenge and its subsequent result as a potential trigger...
Pound to Canadian Dollar exchange rate Outlook for UK economy remains unclear as Boris Johnson settles in to Prime Minister role

Brexit and NAFTA the key movers on GBP/CAD

The North American Free Trade Agreement (NAFTA) is being renegotiated due to Trump's unhappiness with the current deal. NAFTA is a trade agreement between the US, Mexico and Canada. Trump has described the current deal as one of the worst in history. Mexico and the US seem to have ironed out a deal without involving Canada which does leave Canada in a poor position to negotiate. The US are putting high levels of pressure on Canada during talks in an attempt to get better terms, something...
Pound to Canadian Dollar outlook Will Sterling struggle against the Canadian Dollar?

CAD on top during morning trading

The Canadian Dollar held on relatively well compared to the USD, GBP, EUR, and AUD during trading overnight and morning trading in Europe. Poor factory orders in China has fuelled concerns about future global growth, which has spurred a mass sell-off of stocks as a result - this is no longer the kind of slow-down which only affects commodity based currencies like the CAD, AUD and somewhat the US Dollar - this is starting to affect financial centres as well. China's factory orders for August...
GBPEUR rate remains steady as markets await the Autumn Budget

Canadian Dollar benefits from rebound in oil prices (Joseph Wright)

The Pound is trading at almost a 3 year low against the Canadian Dollar, as you would have to go back as far as October of 2013 to see the pair trading below 1.7000. The UK's 'Brexit' has been behind most of the recent substantial drop as currency markets were hoping for a vote to remain within the EU, but after recovering somewhat after the Pounds initial steep drop in the aftermath of the Brexit vote, the downward trend has returned once again. Not only is...
Pound to Canadian Dollar exchange rate GBP fails to make gains against CAD as Brexit and oil prices affect the currency pair

Pound to CAD forecast: Could Canadian Dollar value fall?

Canada's fall in exports could affect Pound to CAD forecast Even with the lack of clarity surrounding Brexit Sterling has made moderate gains against the Canadian Dollar since August of last year. This has certainly not been without setbacks for those looking to purchase the Canadian Dollar with Pounds. The probability of a no deal scenario rising and falling has caused volatility on the exchange. We have also seen the chances of a rate hike fluctuating and the same can be said on oil price, Canada's...