GBPEUR rate remains steady as markets await the Autumn Budget

GDP figures boost Canadian Dollar

*Breaking news* we have just had the revised figures for Gross Domestic Products in the Canadian economy for the month of July. A significant barometer for measuring growth in the economy, these data releases normally have a powerful effect on Canadian Dollar exchange rates. The growth in the economy for the single month of July came in at +0.3%, and this was even when oil prices were at their lowest. The Canadian Dollar itself has received a lot of attention from the news. Previously GBP/CAD...

GBP/CAD reaches 2.03

GBP/CAD rates have been slowly correcting upwards following the massive gains for the Canadian Dollar after the events of last week. The correction, however, is only slight, showing that the same market forces are still in place with market participants still trying to free themselves of their Sterling to purchase Canadian Dollars. The announcement by Janet Yellen, the head of the Federal Reserve Bank of America, concerning the near certainty of an interest rate hike in the US has caused severely ripples across the currency...
GBP to CAD forecast: Will the Canadian Dollar continue to strengthen throughout 2019?

Canadian Dollar week-long gains

The Canadian Dollar has had its most positive week in months, even with an election on the horizon which normally makes investors reluctant to get involved with the currency in question due to the uncertainty on its future financial policy. The first boost was this weeks rise in oil price by more than 2.5% following the announcement of reduced drilling output for the US, as the prolonged low oil price has made their shale oil uneconomical to produce. As a major exporter the value of...
GBPEUR rate remains steady as markets await the Autumn Budget

GBP/CAD falls from Poloz ‘Pep talk’

Stephen Poloz, Governor of the Bank of Canada, gave a rousing speech yesterday on the current state of the Canadian economy. His positive rhetoric and confident tone was enough to install a lot of lost confidence in the Canadian Dollar, and GBP/CAD was the worst affected of CAD pairings, losing more than a cent down to 2.045 as UK markets opened on Tuesday morning. The speech was centered around investor confidence. He said 'Canada has seen this movie before, we've adjusted to rising prices, and...
Pound to Canadian Dollar exchange rate forecast Will GBPCAD rates fall further?

Canadian Dollar swinging wildly

The Canadian Dollar has been swinging wildly today with multiple forces acting on the 'Loonie' due to current events and future expectations. Initially, the announcement of a 2.5% increase in oil prices following slowed drilling in the US was enough to bolster the Canadian Dollar  by more than a cent against Sterling and GBP/CAD rates fell to 2.045. USD/CAD also took a hit down to 1.318. However, there was also weakness for the CAD on most currency pairings as we await the speech this evening by...
Pound to Canadian Dollar exchange rate forecast Will GBPCAD rates fall further?

CAD strengthens from rate hold

CAD became a relatively more attractive prospect yesterday in the North American markets. The Federal Reserve Bank of America voted to keep interest rates on hold yesterday afternoon, and the dovish tones presented to justify the hold are what has caused the USD to weaken so dramatically. CAD/USD spiked rapidly to a 1 month high of 0.764 from lows of 0.757 as confidence in the USD depreciated. Janet Yellen, Chair of the FED, depicted the Central Bank to be on the back-foot in regard to...

GBP/CAD the focus today

GBP/CAD was the focus pairing for the Canadian Dollar today. We are still waiting for the US interest rate decision on Thursday, but there are no new indicators on the probability for this decision, at least none which are obvious enough to affect USD/CAD rates currently. Today inflation data for the UK economy was released which came in as expected, but still disappointingly low. Inflation for August were stable at 0.0%, but being on the precipice of deflation is doing little to help the value...
Pound to Canadian Dollar exchange rate forecast Will GBPCAD rates fall further?

CAD – Calm before the storm

CAD rates have been relatively stable today ahead of what is expected to be a volatile week and month as we near the interest rate decision in the US on Thursday and Canada's election on the horizon. The first major event to affect CAD rates will be the interest rate decision for the US. It's too close to call. Recent data emerging from the US economy paints a strong picture. Unemployment at 5.1% certainly tops the list, but this is also occuring in a period...
Pound to Canadian Dollar predictions: Factors that will impact Pound to Canadian Dollar exchange rates

GBP/CAD focus pairing

Yesterday GBP/CAD took a brief nosedive by about a Cent as the Canadian Dollar strengthened against most of its currency pairings. The revised forecasts for global growth following crises in China during August, which lowered oil prices even further, were not enough to offset the string of positive economic data releases for the Canadian economy in that same period. This was why the Bank of Canada decided to keep interest rates on hold, rather than making further cuts. The Canadian housing market is already benefiting...
Pound to Canadian dollar rates fall lower as Brexit intensifies

CAD the market focus today

Today CAD will hold the world's attention at 13:00 GMT as the Bank of Canada announce their most recent interest rate decision. The consensus is that rates will be kept on hold at 0.5% following a recent run of strong data for the Canadian economy to offset the volatility in the oil market and global marketplace in general. CAD has been strengthening against the US Dollar ahead of the decision, and has halted the recent gains made on GBP/CAD which has been relatively stable since...