Pound to Canadian dollar forecast Canadian Unemployment Rate Falls

CAD continuing to lose value

This slide on CAD has become surprisingly sustained. Previous slides on the oil prices normally saw CAD's value stabilise within one or two business days. This 3 day loss which has seen GBP/CAD for example rise by over 4 cents as the Canadian Dollar weakens has instead set a new precedent. I must also point out that during December you do tend to get more exaggerated movements on the markets as trading thins in the run-up to the holidays. Large and isolated transactions can move...

Canadian Dollar falls dramatically as oil price collapses further

The Canadian Dollar came under sever pressure yesterday with the sustained drop in oil price which was exaggerated on Wednesday this week to the lowest levels since 2009. GBP/CAD rose to 3 month highs, EUR/CAD is the same, and USD/CAD is now at fresh 10 year highs. This oil price fall is a dramatic reaction following a recent meeting for OPEC which was designed to lower oil production worldwide and help to bring prices under control. The announcement of this meeting was originally why oil prices...
Pound to Canadian Dollar exchange rate forecast Will GBPCAD rates fall further?

GBP/CAD rates at 3 month high

GBP/CAD rates of exchange have received a during this weeks trading with oil prices being in free-fall since Monday. The Canadian Dollar has weakened significantly across the board as a result. Despite the Canadian economy's recent diversification to compensate for prolonged low oil prices, the economy is still largely tied to the price of oil, which is why GBP/CAD, EUR/CAD and USD/CAD can experience violent swings at times parallel to such swings on the oil markets. The price of oil is now at its lowest level...

GBP/CAD rates flirting with the 2.0 mark

GBP/CAD has been on a steady decline throughout November following the announcement that the UK would be delaying any interest rate rise until 2017 at the beginning of November.  Little of these movements is to do with Canadian Dollar strength. There have been improvements in unemployment and the housing market over in Canada, however, with oil prices trending negatively throughout November to $42 per barrel, this is not the main force behind the shift on GBP/CAD. Much of the recent strength for the UK Pound has...
GBPEUR rate remains steady as markets await the Autumn Budget

Canadian Dollar rates on back-foot

The Canadian Dollar starts the month on a poor footing following a month where oil prices reached new highs, only to be erased in the latter half of October. The Canadian Dollar still had a net-gain against the Euro and Pound Sterling last month and finished relatively level with the USD, butt the initial gains proved to be only a short-term phenomenon. Many had hoped the recent rally for oil was going to be sustained. Leaders for oil exporting nations as well as major multinationals were...
Sterling continues to slide against the Euro Will the Pound fall below 1.10?

USD/CAD and EUR/CAD exchange rates the focus for the day

The long awaited US interest rate decision will be released today.  With the US being the largest economy in the world, and a significant proportion of of global debt being denominated in US Dollars, this decision will likely affect all major currencies. For the Canadian Dollar, the two major currencies in question which will be swinging wildly as a result, will be USD/CAD and EUR/CAD (to a lesser extent GBP/CAD). USD/CAD has already come under pressure and may fall below 1.32 soon, and EUR/CAD however,...

GBP/CAD exchange rate rises following mixed day on the markets

GBP/CAD rates have had a rollercoaster day on the markets, with poor data for both the UK and Canada fueling changes on market value. The day started with Sterling weakness but we have since seen the Pound gain a full Cent against the Canadian Dollar as North American markets opened to news of a further fall in oil prices. UK GDP figures came in very poorly this morning. Analysts were already predicting a fall but expected this to be modest in light of extra revenue...
GBP to CAD woes continue Could this month see the pair reach a 2 year low?

CAD value determined externally

Until Friday this week, with very little data released on the Canadian economy, CAD value will largely be governed by forces outside of its control - such as the US interest rate decision on Wednesday, as well as further oil price fluctuations. The focus pairing for the week, as the paragraph above suggests, will be USD/CAD as the world watches to see if interest rates in it's largest economy will finally rise for the first time since the financial crisis. However, data released today on the...
Pound to Canadian Dollar rate hits 20 month low could further falls be in store for the Pound

Oil slide reverses CAD gains

The Bank of Canada interest rate decision this afternoon and their monetary policy statement was largely a non-event and was completely overshadowed by slashed oil prices, causing CAD to weaken on the markets. Oil prices were slashed back to the lows of April as forecasted demand for oil over the next few months subsided. This was a combination of increased oil supply from Iran and an increase in US oil stocks by 8 million more barrels than previously estimated. The more than 1% gain for CAD against its...
Pound to Canadian dollar predictions: What to expect this month

GBP/CAD rises against oil prices

Just one day after the election the rally for the Canadian Dollar following the installation of a majority government is already over, and GBP/CAD is near 2.01 on the markets. GBP/CAD Rates have rallied in the short term with the eventual introduction of Iranian oil into the marketplace, which has lowered its price due to increased supply, in-turn weakening the value of the Canadian Dollar. All eyes are now looking forward to the Bank of Canada interest rate decision today. This will set the tone for the next month...