GBP/CAD Exchange Rate Holds Steady as Investors Wait for US Fed Rate Decision and UK Election Outcome

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,...
GBP/CAD Exchange Rate Dipped as the Market Prepared for Election, Tory Win Means GBP Has Cashed Back In

GBP/CAD rates holding steady in the 1.94’s

Yesterday's data on Durable Goods Orders in the US came in terribly, which weakened the Canadian Dollar enough to bring rates back up into the low 1.94's and remain there. Durable Goods Orders are a measure of bulk and long-term purchases that can't be filled immediately by the supplier. Such as 20,000 cars or 15 Boeing Planes. Due to the delay in producers being able to supply these orders to the consumer, those who are purchasing must guess what demand would be like in the...
Pound to Canadian Dollar predictions: Factors that will impact Pound to Canadian Dollar exchange rates

GBP/CAD Rates climbing once more – 1.94 Reached briefly this morning

This kind of volatility is frankly surprising. Most analysts were expecting the rates to settle down after the shock announcements dealt with on this website during Friday's trading session. The rates are moving up because of some poor news expected this afternoon about the long-term projections of the American economy, and their trade relationship with Canada. But to move the rates up by almost two cents in a single morning of trading is disproportionate to how important this data release is frankly. Markets on...
Pound to Canadian dollar predictions: What to expect this month

GBP/CAD rates fall as markets digest the news from last week (Daniel Wright)

From briefly hitting 1.95 on Friday, GBP/CAD rates have fallen to 1.93 in a single morning of trading and seem to still be falling. There are a few reasons why, but those who have a Canadian Dollar requirement over the next few months, should consider their options. It would take quite a monumental data release like the one last week to shift rates up to 1.95 again. As we have seen today it is difficult for the rates to even stay at that level...
Pound to Canadian Dollar rate hits 20 month low could further falls be in store for the Pound

Expect substantial volatility today for CAD Rates

In an hour at 9:30am GMT inflation data for the UK economy will be released. Recently the data released from the UK economy has been extremely poor in this area. Inflation actually fell to a negative deflationary number last month but is expected to rebound this morning. Deflation in principle is considered disastrous for an economy. Japan entered a deflationary spiral which is could not escape from for 20 years. An increase in the inflation number this morning will spell Sterling strength and we...
Pound to Canadian Dollar exchange rate Volatility expected for GBPCAD rates ahead of Canadian general election

GBP-CAD Rises following poor shipping data (Daniel Wright)

It seems that the post below was right to point out that the data today would be significant. It seems that the Candian economy has not had enough time to successfully diversify, and as such, shipping was down more than 2% last month, as the Canadian economy still struggles to revitalise its export base. While efforts have been made to diversify the economy following the prolonged slump in oil prices throughout the world economy, it seems it is not yet translating into an equally profitable sector in...
Pound to Canadian Dollar Forecast Steady Tone for the Canadian Dollar Ahead of Key Domestic Data Due This Week

GBP-CAD Rates holding steady as morning trading begins (Joshua Privett)

A quiet end to the week for data releases has seen CAD exchange rates hold steady as trading begins this morning, suggesting a stable day for rates on the cards. But the long-term stability of the Canadian economy was called into question overnight on two fronts. As the post below notes, the head of the Bank of Canada talked about a potential housing crisis. While the threat is low, bothering to mention one at all was enough for some investors to leave the CAD and cause...

Sterling strength continues from yesterday…CAD falls from negative long term projections (Joshua Privett)

The surprises continued from yesterday's positive UK economic data releases. Our GDP growth for the first 3 months of 2015 came in a full 0.2% higher than expected. While that may seem miniscule, as this is a measure of  entire UK economy, the figure is substantial, and was treated as such by the Currency Markets, with a Sterling rally back up against all major currencies. Further buying opportunities for the Euro continued today for the same reason. Jeremy Stretch at CIBC World markets believes this was...
Pound to Canadian Dollar Forecast Steady Tone for the Canadian Dollar Ahead of Key Domestic Data Due This Week

Mark Carney Speech last night a lesson to currency markets (Joshua Privett)

During his annual Mansion House speech to the City of London last night, the Bank of England governor Mark Carney stated unequivocally that this was the end of 'the age of irresponsibility', with the introduction of tougher criminal sanctions for market abuse. After a host of scandals by big banks such as HSBC, RBS and Barclays where record fines in the billions were dished out for rigging the foreign exchange markets to profit hugely and illegally off of their own clients. From this you can see...