Canadian Dollar Supported on Prospect of Higher Oil Prices

Canadian Dollar Supported on Prospect of Higher Oil Prices

The Canadian Dollar is being boosted by the latest developments and sanctions imposed by the US on Iran. The price of oil is rising which his generally a good sign for the Canadian Dollar. These sanctions will take effect in November so there is still likely to be a choppy period ahead especially if the situation escalates or retracts. The Pound has fallen lower against the Canadian Dollar with rates for GBP CAD having briefly broken below 1.68 today. Much of the recent decline stems...
Interest rate decision for Canada

Bank of Canada interest rate decision and the impact on GBPCAD rates

The Bank of Canada are due to be meeting later this evening to announce their latest interest rate decision. The expectation is to keep interest rates on hold so I don't think we'll see any changes in monetary policy, however, the important part of the day will be the accompanying statement which will provide us with evidence as to why they have decided this month's policy. The Canadian Dollar has been gradually improving against the Pound during the last few months but we could start to...
GBP/CAD Rates Fall after Disappointing Outcome at EU Summit for British PM

Canadian Dollar Supported ahead of Bank of Canada Meeting

The Canadian dollar continues to find support as the price of oil climbs higher and the concerns over the renegotiation of the NAFTA agreement have softened in recent weeks. Ever since US President Donald Trump pulled out of the Iran nuclear deal the price of oil has been inching higher and this is helping strengthen the Canadian dollar. There is currently a good opportunity for selling Canadian dollars. As a commodity currency and net exporter of oil the Canadian dollar tends to strengthen when oil...
GBP to CAD Rates Slip after Strong Week

Canadian Dollar Strength over Uncertainty in Middle East

The Canadian dollar is continuing to make gains across most of the major currencies with a particularly strong improvement against the pound. Rates for GBP CAD have now fallen to 1.7342 creating an excellent opportunity for those clients looking to sell Canadian dollars for pounds. The Canadian dollar has been boosted on the rising price of oil which has stemmed from geopolitical concerns in the Middle East. US President Donald Trump has pulled out of the Iran nuclear deal which is creating uncertainty in the...
Brexit news and Canadian Unemployment to impact Pound Canadian Dollar rates

Canadian Dollar Rallies on Rising Oil Price

The Canadian dollar has been boosted sharply by the sudden rise in the price of oil which has jumped to the highest level since 2014. Prices for American crude reached $70 a barrel yesterday. The looming announcement from US President Donald Trump on whether the US will pull out of the Iran nuclear agreement is now pushing the price of oil higher and the Canadian dollar as a commodity currency is proving to be a beneficiary. Considering that Canada is an oil producer and a...
Pound to Canadian Dollar rates as Brexit Political Declaration Negotiated

CAD Weakness on Falling Oil Price

The Canadian dollar fell against the US dollar yesterday on the back of falling oil prices which slipped on yesterday’s markets. Oil is one of Canada’s biggest exports so any drop in the price usually has a direct negative impact on the Canadian dollar. Canadian Gross Domestic Product (GDP) numbers are released tomorrow and are likely to be scrutinised by the Bank of Canada which has been forced to take a more dovish stance of late. A strong figure would be welcome news for the...
Could we see further CAD strength

Canadian Dollar Still Uncertain over NAFTA

The Canadian dollar continues to remain on the back foot as uncertainty surrounding NAFTA remains the primary concern for the Canadian economy. The Bank of Canada has raised its concerns over the issue as well and its Governor Stephen Poloz has hinted at not raising interest rates until the future is more clear on this matter of trade. The Bank of Canada surprised the markets last July when it raised interest rates by 0.25% which was later followed up with another hike in the Autumn....
GBP CAD Rates Boosted on Brexit Hopes

Canadian bank due to keep interest rates on hold causing the Canadian Dollar to...

After having a good run the Canadian Dollar has started to fall against the Pound after an interest rate hike in Canada appears now to be less likely. Bank of Canada governor Stephen Poloz has suggested that any rate hike may not be coming in the near future. Canadian inflation is currently close to a three year high at the moment and as high inflation is one of the key responsibilities for a central bank this would typically put pressure on a bank to consider...
Interest rate decision for Canada

Canadian Dollar Boosted on Bank of Canada Outlook

The Canadian dollar has received a boost after Bank of Canada governor Stephen Poloz hinted at further interest rate increases after he said that wage growth is forecast to start rising which would be seen as good for the Canadian economy. However he highlighted that the ongoing NAFTA negotiations are holding back the Bank of Canada from making any sudden decisions as uncertainty still remains. There is some hope that a deal will be arranged and there is pressure from Mexico to have this wrapped...
GBP/CAD Forecast: Pound to Canadian rates volatile on Oil and Brexit

Canadian Dollar Strength on Positive NAFTA News

The Canadian dollar has bounced back strongly with good gains across the major currencies including the pound. The Canadian dollar strength has come about after it has been reported that Canada will be largely exempt from the majority of the major changes in the NAFTA agreement which is still being negotiated after many months of uncertainty. The news is welcome for the Canadian economy knowing that trade will continue in a positive manner and gives some reassurance to the Canadian dollar. Rates for GBP CAD...