Will the GBP Recover Against the EUR?

CAD rates stable on Election Day

CAD rates are still surprisingly stable on the day of the Federal Election. We are seeing some very slight Canadian Dollar weakness at the moment but nothing compared to what other currencies have experienced this year. As an example, GBP/CAD in the run up to the UK election weakened by 3% as uncertainty about the British government moving forward reduced confidence in the Pound. This time around, the CAD has only weakened by about 0.8% so far. Polling numbers over the weekend suggest an even...
Canadian Dollar Suffers Seven-Week Low Following the Spread of the Coronavirus

CAD buying rates still low

CAD rates across the board, whether USD/CAD, GBP/CAD or EUR/CAD are still remaining stubbornly low ahead of the election on Monday - I have never seen this level of apathy towards an event which will affect the country for years to come. Especially when polls are close. There are three possible reasons for this, one of which has been touched on in earlier posts. The recent rises in oil prices have hailed a new confidence in the CAD which had previously been causing the consistence slides on...
Canadian Dollar Suffers Seven-Week Low Following the Spread of the Coronavirus

Canadian Dollar expecting a big few days

The Canadian Dollar has undergone a largely uneventful day as we wait for the big days on Friday and Monday with Canadian unemployment data and the Canadian election as well.  Yet there was still significant movement on the markets this afternoon. This was mainly due to the excitement surrounding better than expected economic performance in the US. Canada's neighbors are now out of negative inflation! Furthermore the amount claiming unemployment fell by more than 40,000 to instill much of the confidence lost in the us...
Canadian Dollar Receives Boost from Uptick in Oil Prices as Consumer Data Shows Little Growth

CAD rates- Election focus

With little data to be released today it's unlikely we will be seeing much movement on CAD value. USD/CAD rates may see some movement as North-American markets open for trading in the morning with the release of retail sales data in the US, which normally has quite a sway on US Dollar value. Should the data set come in poorly, the CAD with gain against the USD, and likely get a secondary bump against its other currency pairings as capital moves out of the...
Pound to Canadian Dollar outlook Will Sterling struggle against the Canadian Dollar?

Canadian Dollar still very volatile

The Canadian Dollar's value is still shifting parallel to a rollercoaster-like oil market. Last week Oil prices rose by 10% in total, this was matched by a 4% decline overnight on Monday heading into Tuesday. The Canadian Dollar fell away slightly from recent gains as a result. The reason for the decline was a reduction in Chinese imports by 20% last month alone, which caused many to question whether forecasts for future oil demand would overstated, causing oil prices to fall again. The general trend, however,...
Pound to Euro rate near 26-week high on low ‘No Deal’ Brexit risk

GBP/CAD hits 1.97!

The combination of incredibly poor data from the UK on Friday and the rise in oil prices announced this morning is continuing to push back GBP/CAD. This allowed 1.97 to be seen briefly on the markets. On Friday the UK recorded its worst contraction in the construction sector in two years. A fall of 4.3% in the space of a single month caused the Pound to lose value rapidly. This was not only because confidence in the UK economy weakened, but because this dismal news...
Sterling Declines Ahead of EU-UK Trade Negotiations

GBP/CAD back above 2.0!

GBP/CAD rates have recovered slightly overnight with the news that oil prices dipped marginally after their recent one month highs on the markets. Like currency movements, oil prices were never meant to move in a straight line. It seems that US stocks of Crude Oil did continue to increase even though production has decreased now that shale and fracking has become less economical. This indicated that demand had fallen slightly as well. With the Canadian Dollar so heavily tied to the value of the oil price,...

CAD rates finally stable

CAD rates are currently stable following the recent increase in oil prices documented in previous posts on this websites. While the Canadian Dollar has been stable on GBP/CAD, gains are still visible against the Euro and USD. The reason the slide in favour of CAD has halted on Sterling rates is due to positive data from the UK released this morning about a positive turnaround in their manufacturing sector. The first signs of positive tones in the oil market are now available after more than half a...
Pound Sterling Softens Against the Canadian Dollar, but a Week of Economic Data Releases Will Test Both

GBP/CAD rates below 2.0!

The Canadian Dollar rally has continued unabated as GBP/CAD rates have now cascaded below 2.0 and got as low as 1.98 before correcting just above 1.99 as trading opened in North American markets this morning. A string of positive data from the Canadian economy has been moving GBP/CAD down for the past four weeks as Canadian Dollar strength began to outweigh the flailing confidence in the UK Pound. What finally pushed rates below the 2.0 mark was actually two consecutive 3% rises in oil price over...
GBP/CAD Exchange Rate Dipped as the Market Prepared for Election, Tory Win Means GBP Has Cashed Back In

GBP/CAD falls below 2.01!

The rally for the Canadian Dollar has continued unabated following strong GDP figures released yesterday morning. As a result, GBP/CAD is now at its lowest levels since we first journeyed above the 2.0 mark in July. We have come close to this territory before, with GBP/CAD rebounding just as 2.01 was hit. Currency markets are fickle. Arbitrary boundaries are created around whole numbers such as 2.01 or 2.00 which are hard to break through called 'resistance levels'. Currency traders at large banking institutions set in 'limit orders'...