Canadian Dollar Suffers Seven-Week Low Following the Spread of the Coronavirus

Canadian Dollar Suffers Seven-Week Low Following the Spread of the Coronavirus

CAD was weighed down by lower oil prices, as investors dumped commodity-based currencies amid fears of the Coronavirus. Concerns about the impact of the virus on travel, tourism and the broader global economy have also been voiced. Spread of the Deadly Coronavirus Sends the CAD Tumbling Alongside Other Commodity-Linked Currencies The Canadian Dollar is not the only currency to suffer losses from the outbreak. Both the Australian and New Zealand Dollars saw their rates fall as pressure increased. The US also saw its crude oil prices...
Canadian Outlook Questioned Despite Maintaining Cash Rate as GBP Awaits BoE Decision

Canadian Outlook Questioned Despite Maintaining Cash Rate as GBP Awaits BoE Decision

Last week saw the Bank of Canada announce its decision regarding their monetary policy. The decision was revealed as a maintenance of the current interest rate of 1.75%. Though the hold was positive, critics have begun to question if the rate is sustainable as the economy pushes forward. Meanwhile, the GBP has experienced recent gains after last weeks positive economic data releases. Both the labour market report and PMIs for the manufacturing and services sectors were above targets and gave the GBP a huge...
Pound to Canadian Dollar Exchange Rate: Gains for Sterling After Bank of Canada Uncertainty

Pound to Canadian Dollar Exchange Rate: Gains for Sterling After Bank of Canada Uncertainty

The Canadian dollar looks to be ending the week off in a negative manner. With recent comments from Bank of Canada (BoC) governor Stephen Poloz bringing little to support the Canadian dollar’s longevity with a 1.75% interest rate, it appears that the currency could be on a downward slope. He announced that the cash rate would remain the same for this month, but speculations are arising concerning the CAD’s outlook after the central bank themselves admitted they may have been too optimistic back in...
Canadian Dollar Receives Boost from Uptick in Oil Prices as Consumer Data Shows Little Growth

Canadian Dollar Hits Near Four-Week Low as GBP Climbs to Reverse BoE Rate Cut...

The Canadian Dollar hit a near four-week low against the USD on Wednesday after dovish comments from the Bank of Canada (BoC) in a policy announcement prompted investors to raise bets of an interest rate cut from the central bank in the coming months. Meanwhile, GBP has celebrated recent success in its labour market report which released earlier this week. The positive figures helped to support the pound and saw it rise above many of its rivals. Canadian Dollar loses its resilient status as BoC...
GBP Pushes Higher as Factory Output Booms

Canadian Dollar Pulls Back from Pound Sterling Amid Coronavirus Fears and Upcoming BoC Decision

The Canadian Dollar retreated from GBP and other rivals on Tuesday after declines in stock and commodity prices. CAD is also awaiting the Bank of Canada’s (BoC) interest rate decision which will likely be the main driver of the currency going forward. Meanwhile, GBP saw a boost after surprising employment data figures which allowed the GBP to edge over some of its major rivals. There is a new spur of optimism surrounding the Pound Sterling, with bets recently reaching around 70% chance of a...
Canadian Dollar Forecast: CAD Continues to Suffer from Pandemic Woes

Pound Sterling Softens Against the Canadian Dollar, but a Week of Economic Data Releases...

It is safe to say GBP has performed worse out of the two currencies over the past few weeks. The pound starts this week no different, with fresh worries about the Bank of England (BoE) cutting interest rates, the week ahead may be tough for the GBP. Further concern may be ahead as the UK prepares for more economic data releases in the form of jobs data and PMIs. For the resilient Canadian Dollar, the week is just as packed with important data releases...
Canadian Outlook Questioned Despite Maintaining Cash Rate as GBP Awaits BoE Decision

Resilient Canadian Dollar Faces Week of Influential Data and Bank of Canada Policy Decision:...

The Canadian dollar has started 2020 as one of the most appealing currencies in the major trading market. Despite a recent lack of economic data to stir up interest, the currency has held its own and remained in a resilient but strong position. This week will see the release of various economic figures from the Canadian economy and more importantly, the Bank of Canada’s policy decision. The resilience shown by the CAD is evident in its strong exchange rates versus the GBP and USD....
Pound Could Struggle Against Canadian Dollar as Economy Concerns Overshadow Optimism

Canadian Dollar Tipped to Edge Over Pound Sterling This Year

GBP is on a downward spiral of late. Its recent performances against CAD have already seen some of the steepest losses of all the pairings the GBP has in the trade market. But forecasts from Canada’s Desjardins predict GBP is set to fall lower against the Canadian Dollar in the coming months. The Pound Sterling has suffered at the hands of the Bank of England’s recent dovish comments which have tipped off the market about a potential rate cut at month-end. BoE’s Dovishness Sinks GBP...
Canadian Dollar Receives Boost from Uptick in Oil Prices as Consumer Data Shows Little Growth

What Does the Phase One Deal Mean for the Canadian Dollar?

The United States and China met yesterday to sign their agreed-upon Phase One trade deal. US President Donald Trump and representatives from China met to sign the document which will see a lift on some US tariffs on China with an aim to bolster global economic growth. Many awaited the signing of the deal as then the details of the agreed terms would be released. The signing of the Phase One deal appears to have lifted the sentiment and the CAD has benefitted from...
Pound to Canadian Dollar Outlook: Investors Favour Upside Following GBP Strength Boost

Canadian Dollar Dips Against USD Ahead of Trade Deal Whilst GBP Surrounded in Worry...

The Canadian Dollar dipped against its US counterpart on Tuesday as the USD rose. Towards the end of trading, CAD did manage to stick within its recent trading range ahead of the expected signing of the phase one deal between the United States and China later this week. Meanwhile, GBP saw further losses after three members of the Monetary Policy Committee of the Bank of England nodded towards a potential rate cut at months-end. This saw GBP drop as investors worry about the impact...