The Canadian Dollar Has Enough Resilience to Set Its Own Path in Monetary Policy

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...
Pound to Euro rate near 26-week high on low ‘No Deal’ Brexit risk

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,...
Pound to Euro outlook Election uncertainty and Brexit hold Sterling to a tight trading range

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...
GBPCAD Exchange Rate on the Rise with Brexit Party Ruling Out Tory Seat Contention

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...
The Canadian Dollar Has Enough Resilience to Set Its Own Path in Monetary Policy

Election and the Canadian Dollar

The polls got it incredibly wrong, again, and the Canadian Dollar has swung wildly overnight as a result. We seem to be harking back almost exactly to the UK election, where polls suggested a close race, and then a majority government emerged instead with the Pound strengthening massively as a result. The Liberals gained a staggering 54% of the vote, when on Friday they were forecasted to receive a mere 35%. The Canadian Dollar was weakening slightly yesterday with this forecast in mind, because those forecasted...
Pound to Canadian Dollar rate hits 20 month low could further falls be in store for the Pound

Canadian Dollar finally weakens

As polls open and North-American markets finally become concerned about the potential for a change of Prime Minister following the latest poll numbers, the Canadian Dollar has finally weakened after a long-delay. The rule of thumb on currency markets is for weakness surrounding election for any given currency. The Canadian Dollar has proven that it also follows the same rules, however delayed the result. GBP/CAD has strengthened a full 1% in 2 hours and USD/CAD and EUR/CAD are following similar patterns. It is difficult to gauge how far this...