Pound to Canadian Dollar rate hits 20 month low could further falls be in store for the Pound

Canadian GDP (Growth) figures key for how we see CAD end the week

It has not been a great week for the Canadian Dollar against most majors, seeing a slight dip in value over the course of the week. The Canadian Dollar was actually the worst performing of all the major currencies on Tuesday and it does appear that investors have slight concerns on how growth figures (released tomorrow) are due to come out. Expectations are for month on month figures for December to post a figure of a mere 0.1% growth from 0.4% last time around, which would more...
GBPEUR rate remains steady as markets await the Autumn Budget

Economic data that may impact Canadian Dollar exchange rates for the end of the...

The recent drop in oil prices has led to weakness for the Canadian Dollar, we have seen oil prices fall in value by $5 per barrel over the past month which is starting to weigh down on the value of the Canadian Dollar. Canada's economy does have oil as one of its key exports so any negative move on oil prices can impact both the Canadian economy and lead to weakness for the Canadian Dollar too. This afternoon at 13:30pm GMT we have the release of...
Pound to Canadian Dollar forecast Brexit news continues to dominate movement for the GBPCAD exchange rate

Canadian Dollar suffers despite rate hike (Daniel Johnson)

NAFTA is a cause for concern for CAD The Bank of Canada (BOC) decided raise rates last week after positive economic data, particularly unemployment, which plunged to the lowest levels in forty years. Common belief would be to assume a rate hike means a stronger currency, this is not always the case. The market moves on rumour as well as fact and the rate hike was anticipated following the release of the unemployment data so the hike was already factored into the exchange. There is also...
GBPEUR rate remains steady as markets await the Autumn Budget

Bank of Canada predicted to hike rates (Daniel Johnson)

Is a Rate hike justified by the BOC? This afternoon is the Bank of Canada (BOC) interest rate decision. The expectations are that there will be a hike from 1% to 1.25%. Bank of Canada Governor, Stephen Poloz has stated a change in interest rate would be data dependent. If this is the case then  a rate hike should occur today. We have recently witnessed the best unemployment data in four decades. Personally, I am of the opinion a rate hike in the current climate is...
Pound to Euro forecast Sterling slides against major currencies as Brexit negotiations stall

NAFTA breakdown has potential to weaken CAD (Daniel Johnson)

Trump plays hard ball on new NAFTA deal Donald Trump has decided to renegotiate the North American Free Trade Agreement (NAFTA) which has been in operation for over twenty- three years. Trump believes Mexico and Canada have benefited from the agreement, but hasn't been as lucrative as it should be for the United states. Trump believes NAFTA was a disaster and went as far as to say it is "the worst trade deal in history." Mexico, Canada and the US have now sat down to renegotiate the...
Pound to Euro forecast Sterling slides against major currencies as Brexit negotiations stall

Oil price drop leads to further weakness for the Canadian Dollar (Daniel Wright)

The Canadian Dollar dropped off a little in trading yesterday, as investors and speculators dropped off some of their bullish bets (in favour of Canadian Dollar strength) due to the drop off in oil prices witnessed yesterday afternoon. At one point oil prices were down by 2% and although the tight link between the Canadian Dollar and oil prices is not as tight as it has been in recent times it still does have an impact on the price of CAD as we saw over...
Pound to Canadian Dollar exchange rate Volatility expected for GBPCAD rates ahead of Canadian general election

Which will be stronger the pound or the Canadian dollar?

The Canadian dollar has been strengthening in recent weeks as it becomes more and more likely the Bank of Canada will raise interest rates. Expectations for the pound to rise against the Canadian dollar looked limited until this week when Inflation surprisingly jumped and the pound made some significant gains on the Loonie rising to almost a one month high. The big question for me is now will the Bank of England raise rates and what can this do to the GBPCAD exchange rate...

Politics and Brexit hold back the Pound (Daniel Johnson)

CAD moves from strength to strength The Canadian Dollar continues to strengthen against the pound. There has been a recent rate hike by the Bank of Canada (BOC) from 0.5% to 0.75% and there is the possibility of further rate hikes in the not too distant future. The Canadian economy is currently very strong with positive data across industries. Canada's primary export, oil is also in high demand following a cull in oil production from Organisation for Petroleum Exporting Countries (OPEC). OPEC have put in...
Pound to Canadian Dollar outlook Will Sterling struggle against the Canadian Dollar?

Will the pound rise or fall against the CAD in the coming weeks?

The pound is looking like it will only struggle further against the Canadian dollar as we get closer to the reality of the Brexit. Brexit uncertainties are probably not a surprise to many reading this blog, you might even be bored of hearing about them but if you are concerned with the pound and the Canadian dollar on any form of transaction, it is a reality you will need to face up to. The pound looks like it could well drop much further as politically...

Huge day tomorrow for the Loonie at 3 pm! Will the Bank of Canada...

There is huge expectation for the Bank of Canada (BoC) and Governor, Stephen Poloz, to raise Canadian interest rates tomorrw. The currency has risen to the best rates since April against the pound as the prospect of a hike triggers a flood of investment into the Canadian economy. With their main trading partner the United States roaring ahead next door, the good news is helping the Canadian economy and a rate hike now seems imminent when the decision is made tomorrow at 3pm. The Loonie...