Pound to Canadian Dollar Outlook: Investors Favour Upside Following GBP Strength Boost

CAD strengthens while GBP and USD lose value (Daniel Wright)

An interesting day for the Canadian Dollar unfolded as we got a lesson in how interconnected the currency markets are. Single events in distant countries can have as strong an affect on Canadian Dollar rates as those right on the country's doorstep in the US. Today the amount of people claiming jobless allowance in the US were shown to have increased by 30,000 last month, and the amount of new jobs added the economy came in lower than expected. Poor data in the US, due...
Pound to Euro forecast Sterling slides against major currencies as Brexit negotiations stall

As expected GBP/CAD rates remained at 1.96

Yesterday was largely uneventful for the Canadian Dollar. Few data releases on either side of the Atlantic saw the situation in Greece dominating the relationship between most currency pairs. While the Greek delegation suddenly showed themselves to be more conciliatory in their run-up to their referendum on July 5th, offering new terms, and rumours that they were more open to accepting further cuts flourished. However, with nothing concrete announced, rates refused to move below or above 1.96 for GBP/CAD as no more capital flowed in...
Pound to Canadian Dollar Exchange Rate: Gains for Sterling After Bank of Canada Uncertainty

GBP/CAD rates hold steady in the low 1.96’s

It seems markets are still digesting the mammoth swings which occurred yesterday for the Canadian Dollar. It seems Canada started the second quarter much like it started the first quarter of 2015, in recession. The first quarter saw an annualized rate of recession at -0.6%, and now we have begun the second seeing an initial contraction of -0.1%. Recession is defined by two successive quarters in a row of economic contraction, and Canada is now only a few months away from being in this category. Policymakers...
Pound Euro falls after PMI Services Data in the UK

CAD weakens further against all major currencies (Daniel Wright)

GBP/CAD rates got as high as 1.965 today as everything worked in the Canadian Dollar buyers' favour to stretch rates just that little bit further, and fresh 7 year highs have been reached! Canada's economy contracted in May by -0.1%, only a small amount away from the expected 0.1% growth, but an economy flirting with recession understandably does not attract much confidence. It seems that the poor trade figures released earlier in the month were right to indicate a slow-down in the economy. Whilst Canada...
Have We Seen the Worst For The Pound as The Bounce Bank Continues Against CAD?

Extremely volatile day for CAD against all major currencies

GBP/CAD, EUR/CAD, USD/CAD and more will be subject to numerous market forces today. There will be data releases in the Canadian economy, political upheaval in Europe, and a flood of economic forecasts released for the UK, Europe and the US. At 13:30 GMT the release of GDP for the Canadian economy during the month of May will be the most important point to watch out for the day. Canada has tried extremely hard to diversify its economy in the face of record and sustained poor...
Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

GBP/CAD rates catapulted back up to 1.95! (Joshua Privett)

A multitude of factors have come together today to allow the Pound to gain a further 2.5 cents against the Canadian Dollar in a single day of trading. To put this in perspective, between the high and the low of today a $200,000 purchase was £1,300 cheaper to achieve on a well timed transfer! Firstly, investors fearful of a volatile Greek crisis has moved into safer currencies such as Sterling, which has artificially boosted its value due to increased demand. This began immediately this morning. Secondly, disappointing...
GBP to EUR Rate: Pound Sterling in Meltdown, Losses Sustained Against EUR

GBP/CAD rates rise briefly as the Pound gets an artificial boost (Daniel Wright)

After almost hitting 1.92, Sterling has benefited from a mass-influx of currency from the European mainland. The sudden deterioration in talks with Greece has forced many investors to flee to safe haven currencies such as the Pound. In doing so, they have driving up the value of Sterling on the currency markets, which is why in the first few hours of trading this morning rates have glided back up to 1.94. This should be viewed as another golden opportunity for Canadian Dollar buyers. We are...
Sterling Declines Ahead of EU-UK Trade Negotiations

CAD loses ground against all major currencies yesterday with falling oil prices

The losses were slight but widespread. Most were expecting a rise in crude oil prices yesterday as crude oil stocks had dropped for an 8th week in a row, suggesting a removal of the oil glut and an increase in demand. However, this was matched by record output in the U.S of 9.6m barrels per day. So while the U.S. market was increasing it seems they will likely be buying their own stock rather than adding to demand for the overseas markets, which is...
Canadian Dollar Suffers Seven-Week Low Following the Spread of the Coronavirus

Expect significant volatility for GBP/CAD rates today

Today will be a mixed day for the Canadian Dollar and its currency pairs. There will be an unprecedented 13 significant data releases for the US economy today, all of which offer an insight to the economic strength of Canada's largest trading partner. The data varies from the amount of natural gas storage to the amount of jobless claims in the US, some will be positive, and some negative, so rates will be moving significantly, but they may end up staying in the 1.94's. The...
Pound to Canadian Dollar Outlook: GBP Rises Following Factory Output Success as CAD Falls from COVID-19 Fears

GBP/CAD rates hold at 1.94 as US GDP figures come in as expected (Joshua...

There were no surprises today, as US economic data came in as expected. They have revised down the amount the US actually shrank during the first quarter of 2015 from -0.7% to -0.2%. While this may not sound like much, half a percent of an economy which produces tens of trillions worth of goods every year is more than enough to turn some heads. We have written a lot recently about about how much the US economy has a knock-on effect on the Canadian economy,...