GBP EUR Could Head Lower After Growth Revisions

Three Key Events in a Vital 72 hours for GBPEUR and GBPUSD Exchange Rates

The beginning of this week in the UK was very sombre with Her Majesty’s funeral and a UK Bank Holiday. This meant UK markets were shut, and ensured a fairly sleepy start to the week from a currency perspective, with sterling still nestling in the doldrums following the poor Retail Sales data from last week. The rest of this week looks far from calm however, with three key events that could trigger market movements for the pound, US dollar, Euro and many other currencies. The...

Pound at its lowest against the Euro in 19 months, and 37 years against...

The pound is notably weaker today following the release of the latest UK Retail Sales numbers showing a surprise fall of 1.6%, which makes the economic slowdown anticipated, and likely recession ahead seem much worse than thought for Britain. As I write, GBPEUR levels have dropped to a 19-month low, with the day low at the time of writing 1.1399 on GBPEUR and 1.1350 on GBPUSD. The cable level is a 37-year low, the worst for sterling since 1985 against the US dollar. I am...

US Inflation figures give Dollar a huge boost in Tuesday’s trading

The Dollar has had a really positive day of trading against both Sterling and the Euro, with a gain over 1% against both during the Tuesday trading session. This is mainly down to higher than expected inflation numbers, overall CPI (Consumer Price Index) figures were released at 8.3% as opposed to expectations of 8.1% and given the Federal Reserve’s robust stance on interest rates this has heightened the chance of further aggressive rate hikes in the months to come. For those that are not regular readers...
Pound to Euro rate continues to fall, making history in the process

Pound Sterling losses continue as cost of living crisis dominates headlines – New Prime...

Sterling exchange rates have continues to drift to kick start a new trading week, as the cost of living crisis dominates headlines across UK media. With today being an important day for UK politics as we see the announcement of the winner in the Conservative party leadership contest, and ultimately who will be the new Prime Minister, they will almost instantaneously have to announce how they plan to combat what appears to be an extremely challenging winter for the majority of households and businesses. It is...
Canadian Dollar Saved by Inflation Target Being Met but Outlook Looks Worrying

NAFTA deal still far from sewn up

US threatens non-approval on NAFTA deal if there is no firm proposal in place in three weeks. The North American Free Trade Agreement (NAFTA) is currently in the process of being renegotiated. NAFTA is a free trade deal between the Sates, Mexico and Canada. Trump has made very clear he is unhappy with the current deal and has called it "the worst trade deal in history." The results of the new negotiations could have huge ramifications fro the Canadian Dollar, the US is Canada's largest trading partner. If...
Pound Stronger vs Canadian Dollar this Morning

Bank of Canada dovish which leads to Canadian Dollar weakness – NAFTA concerns starting...

We have seen further weakness for the Canadian Dollar during trading today following on from the Bank of Canada Governor Poloz offering a fairly dovish view on the economy in a speech last night. The NAFTA agreement or more importantly the uncertainty behind it is starting to weigh heavily on business confidence in Canada, along with the continued strength of the U.S Dollar which is also leading to the Canadian Dollar weakening. The rise for U.S treasury 2-year notes compared to Canadian 2-year notes is now...
How Is COVID-19 Effecting GBP to CAD Exchange Rate?

Bank of Canada members to set the scene for the Canadian Dollar as the...

Following on from a fairly flat day for Canadian Dollar exchange rates we have a few points of note for you to keep an eye out for if you have Canadian Dollars to exchange in the near future. Two members of the Bank of Canada are speaking today, Governor Poloz is speaking shortly and later on in the trading day we also have BOC Deputy Lane speaking later in the afternoon. Poloz is not expected to raise any large movements, as he speaks at the unveiling of...
Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

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...
GBP EUR Exchange Rate: Weekly Review July 16  

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...
Canadian Dollar Suffers Seven-Week Low Following the Spread of the Coronavirus

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...