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...
Canadian Dollar Could Be Shaken up by Coronavirus Impact on the Bank of Canada Outlook

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...
Will the GBP Recover Against the EUR?

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...
Sterling Declines Ahead of EU-UK Trade Negotiations

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...
Will the GBP Recover Against the EUR?

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 Euro Exchange Rate: EUR Slumps as Number of COVID-19 Cases in Europe Rises

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,...
Canadian Dollar Could Be Shaken up by Coronavirus Impact on the Bank of Canada Outlook

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...
Will the GBP Recover Against the EUR?

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...
The Canadian Dollar Celebrates USMCA Deal but Investors Are Cautious Following Poor Jobs

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...
GBP to EUR Forecast: Will the 2020 Pound Sterling Highs to Buy Euros Remain?

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...