Could we see further CAD strength

Canadian Dollar gains strength following rate hike and positive comments thereafter

Yesterday we saw the Canadian Dollar make fairly solid gains against Sterling and most major currencies over the course of the trading afternoon. First and foremost we did see a much anticipated interest rate hike from the Bank of Canada, moving their interest rate from 1.25% to 1.5% at the latest interest rate decision. Many analysts had expected this, and although it did lead to a little strength for the Canadian Dollar the main reason for the further surge in value could be put mainly down...
Interest rate decision for Canada

Bank of Canada to raise interest rates tomorrow

Expectations are for the Bank of Canada to rise interest rates at their key interest rate decision tomorrow at 3pm BST. Although this hike is widely expected it would not be a great surprise to see a little Canadian Dollar strength to follow this decision, where rates are expected to rise from 1.25% - 1.5%. This Canadian Dollar strength may not last for too long however, as we will also have the release of the Bank of Canada Monetary Policy statement at the same time and...
GBP/CAD Rates Fall after Disappointing Outcome at EU Summit for British PM

CAD Forecast – BoC Interest Rate Decision Unlikely to Boost CAD’S Value (Mattew Vassallo)

Any clients with a short-term CAD currency exchange requirement will be keeping a close eye on Wednesday’s Bank of Canada (BoC) interest rate decision and subsequent monetary policy statement. The BoC are expected to keep rates on hold at 1.25% and with economic uncertainty around the Canadian economy at record highs, I would be very surprised to see a rate rise even muted under current market conditions. The CAD itself has been under increasing pressure for much of 2018, with heavy losses against Sterling and the...
Pound unsteady against the Canadian Dollar as Brexit vote just a week away

CAD Forecast – Positive Employment Data Helps to Boost CAD’s Value (Matthew Vassallo)

The CAD has found plenty of support against Sterling over the past week, hitting 1.7946 at today’s high. This move back below 1.80 has brought some much needed respite to those clients with upcoming CAD currency positions to execute, having seen the Loonie marooned above this threshold over recent months. This improvement has come in line with a positive run of economic data, which including March’s employment figures. These confirmed that 32,000 jobs had been added to the Canadian economy last month, keeping the current unemployment...
Pound unsteady against the Canadian Dollar as Brexit vote just a week away

CAD Forecast – Loonie Remains Under Pressure Despite Progress with NAFTA Talks

The CAD has been under pressure of late, with investors moving funds from the Loonie at a rather alarming rate. It has seen significant losses against both Sterling and the USD, although a slight upturn this week against the Pound will at least be of some relief to those clients with any upcoming CAD currency exchange to execute. The recent interest rate hike by the US FED certainly seemed to have an impact, as it drove investor confidence in the USD causing the CAD to weaken...
GBP CAD Rates Boosted on Brexit Hopes

CAD Forecast – Loonie Remains Under Pressure Despite Progress with NAFTA Talks

The CAD has been under pressure of late, with investors moving funds from the Loonie at a rather alarming rate. It has seen significant losses against both Sterling and the USD, although a slight upturn this week against the Pound will at least be of some relief to those clients with any upcoming CAD currency exchange to execute. The recent interest rate hike by the US FED certainly seemed to have an impact, as it drove investor confidence in the USD causing the CAD to weaken...

CAD Forecast – Canadian Economic Growth to Slow in 2018 (Matthew Vassallo)

The CAD is under pressure this week losing ground against a host of the major , with these losses particularly apparent against both Sterling and the USD. Wednesday’s interest rate hike by the US FED and what seems like a significant breakthrough in Brexit talks, has certainty had a detrimental effect on the CAD. Investors have been moving their funds away from the Loonie all week, with its value decreasing at a rather alarming rate. Despite new head of the FED Jerome Powell remaining fairly dovish...
Sterling drops against the Canadian Dollar as pressure mounts on Theresa May

CAD Forecast – Why is the CAD Struggling Despite Wednesday’s Interest Rate Hike? (Matthew...

The CAD has found life tough going of late, struggling to make any significant impact against Sterling since the turn of the year. GBP/CAD rates move back above 1.73 overnight and although the CAD found some support around this level, the current trend is somewhat baffling considering the relative health of the UK & Canadian economies. The uncertainty surrounding Brexit is having a huge impact on investors risk appetite for the Pound. Despite talks progressing to phase two, it has done little to dispel the current...
GBPEUR rate remains steady as markets await the Autumn Budget

Why did the Canadian Dollar fall when interest rates were hiked? (Joseph Wright)

Yesterday the Bank of Canada chose to raise interest rates for the third time in the last year. The interest rate now sits at 1.25% and those that decide on making the decision to change interest rates have stated that this decision can be put down to increasing inflation levels, and an a strong Canadian economy. Many economists and market traders had predicted the move and the Loonie had been increasing in the lead up to the decision, and once it was made official many took...
Canadian economic data to influence direction of GBP/CAD rates

GBP/CAD Forecast – CAD Finds Support Following Sterling Spike (Matthew Vassallo)

GBP/CAD rates have fallen during Tuesday’s trading, as the CAD found some support around 1.70. The CAD hit a high of 1.6873, giving it some much needed respite following the recent loses against Sterling. Sterling’s performance against the CAD has not been mirrored against most of the other major currencies and therefore the recent spike is somewhat surprising. Considering how much pressure the UK economy has been under of late, this improvement has been taken advantage of by many of our clients with a short-term GBP/CAD currency...