Pound to Canadian Dollar Forecast: Loonie Dips on Volatile Oil Prices, GBP to Benefit

Canadian Dollar Edges Over Sterling as Friday Jobs Data Looms

The Canadian dollar looks to be back on the rise once more after a recent sigh of relief from the market regarding the coronavirus occurred this week. The relief came after a breakthrough from Chinese researchers who highlighted that a treatment for the coronavirus has been found. This lifted the markets risk sentiment as optimism that the virus could be controlled increased. An increased oil price has also helped the Canadian dollar recovery. The Canadian dollar also awaits its labour market report tomorrow which...
GBP/CAD Retreats but Canada’s Oil Concerns Pile on Pressure

Canada Falls to Two-Month Low Before BoC’s Wilkins Provides Overview of CAD’s Outlook

Bank of Canada’s Carolyn Wilkins Speech Suggests Investments Needed to Keep Canadian Economy Firing Coronavirus Fears Decline After Treatment Breakthrough, but WHO Warns It Is No ‘Cure’ Yesterday saw the Bank of Canada’s second-in-command governor Carolyn Wilkins give a speech in which she noted that breaking down interprovincial trade barriers and reforming tax and regulatory systems will keep the country’s economy singing into the future. Before this speech, the Canadian dollar dropped to a two-month low against the greenback, with the global threat of...
Pound to Canadian Dollar Outlook: Loonie Tumbles but Trudeau Unveils $82bn Economic Support Package

Canadian Dollar Remains Under Pressure from Oil Prices as GBP Remains Heavy

The Canadian dollar remained under pressure on Tuesday, falling short or remaining flat against its rival currencies. The oil-sensitive CAD felt the pressure as oil prices rebounded after OPEC signalled a potential curb on production to protect oil prices as Chinese demand subsides. As a result, the Canadian Dollar traded flat at around the $0.7527 against the USD. Optimism lingered in hope that OPEC would be able to offset a potential drop in demand caused by the outbreak of the coronavirus in China, this...
Canadian Dollar Trades Lower as Oil Prices Fall Amid Coronavirus Concerns as GBP Drops Due to Brexit Worries

Canadian Dollar Trades Lower as Oil Prices Fall Amid Coronavirus Concerns as GBP Drops...

The Canadian dollar traded lower on Monday as it fell to an eight-week low against the USD. CAD’s decline came after the price of oil drastically retreated and domestic data showed that factory activity increased at a snail’s pace for January. The price of oil is important to Canada as it is one of its major exports, the price was dragged down by the concerns over the coronavirus and the reduced demand that may occur because of it. Meanwhile, GBP also retreated on last...
Pound to Canadian Dollar Outlook: Investors Favour Upside Following GBP Strength Boost

Pound to Canadian Dollar Exchange Rate: GBP Keeps CAD at Bay Despite Overperforming Canadian...

The pound to Canadian dollar exchange rate has started the new trading week on the front-foot, much to some investors surprise after last weeks Canadian GDP data for November came in above expectations. However, the Loonie was unable to capitalise on the good news amid the mounting concerns surrounding the coronavirus. The spread of the virus has triggered the World Health Organisation (WHO) to announce the coronavirus as a global health emergency. This pressure has weighed on the Canadian dollar as a risk-sensitive currency...
CAD to Feel the Pressure from Oil Prices and BoC Cuts

Canadian Dollar Drops as Coronavirus Incurs Further Declines and GBP Gains on BoE Decision

The Canadian dollar is still suffering at the hands of the Coronavirus outbreak which has captivated headlines for the past couple of weeks. The virus shows no signs of stopping and has continued to spread throughout the world from the originating Chinese province of Wuhan. The risk-sensitive Canadian Dollar has suffered after oil prices fell on expectations that the coronavirus outbreak will lead to reduced demand for oil. Meanwhile, the GBP/CAD exchange rate rose as GBP celebrated the BoE’s decision to hold their interest...
Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

Canadian Dollar Could Be Shaken up by Coronavirus Impact on the Bank of Canada...

The Canadian Dollar has come under focus as fears surrounding the coronavirus increase. The market suggests that the BoC outlook may be impacted by the virus as the CAD softens versus safe-haven currencies. The Canadian Dollar is not the only currency effected by the spread of the virus, with other risk-sensitive currencies like AUD and NZD both suffering losses as the market risk appetite reduces. Meanwhile, GBP is waiting on its Bank of England interest rate decision which is set to be announced later...
Pound to Canadian Dollar Outlook: GBP Rises Following Factory Output Success as CAD Falls from COVID-19 Fears

Canadian Dollar Advances Despite Global Concerns as GBP Retreats on Brexit Worries

The Canadian dollar exchange rates rose against the pound sterling yesterday, as UK markets remained cautious ahead of Thursday’s Bank of England rate cut decision. Canadian Dollar Shows Signs of Resilience Despite Global Concerns The Canadian Dollar edged over the pound yesterday as UK markets remained focused on the BoE’s rate decision due on Thursday. CAD has suffered some of its potential gains due to the rising fears over China’s Coronavirus outbreak which has knocked confidence in the risk-sensitive currency. Because of Canada’s economy being...
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...
Have We Seen the Worst For The Pound as The Bounce Bank Continues Against CAD?

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...