Should I buy Canadian dollars now?

Canadian Dollar Strength over Uncertainty in Middle East

The Canadian dollar is continuing to make gains across most of the major currencies with a particularly strong improvement against the pound. Rates for GBP CAD have now fallen to 1.7342 creating an excellent opportunity for those clients looking to sell Canadian dollars for pounds. The Canadian dollar has been boosted on the rising price of oil which has stemmed from geopolitical concerns in the Middle East. US President Donald Trump has pulled out of the Iran nuclear deal which is creating uncertainty in the...
Pound unsteady against the Canadian Dollar as Brexit vote just a week away

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...

CAD Forecast – Canadian GDP Figures Boost the CAD’S Value Further (Matthew Vassallo)

The CAD has found a new lease of life over recent weeks, with another positive move during Tuesday’s trading. CAD/GBP rates have spiked by around a cent and a half, following the release of today’s attest Gross Domestic Product (GDP) figure. Canada’s economy has grown by 0.4%, with the official figure coming in above the markets predicted result of 0.3%. This healthy reading is the culmination of a run of strong economic data, which has helped to boost investor confidence in the Canadian economy over recent weeks. This...
Could we see further CAD strength

Canadian Dollar Still Uncertain over NAFTA

The Canadian dollar continues to remain on the back foot as uncertainty surrounding NAFTA remains the primary concern for the Canadian economy. The Bank of Canada has raised its concerns over the issue as well and its Governor Stephen Poloz has hinted at not raising interest rates until the future is more clear on this matter of trade. The Bank of Canada surprised the markets last July when it raised interest rates by 0.25% which was later followed up with another hike in the Autumn....
Interest rate decision for Canada

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...
Interest rate decision for Canada

Canadian Dollar Boosted on Bank of Canada Outlook

The Canadian dollar has received a boost after Bank of Canada governor Stephen Poloz hinted at further interest rate increases after he said that wage growth is forecast to start rising which would be seen as good for the Canadian economy. However he highlighted that the ongoing NAFTA negotiations are holding back the Bank of Canada from making any sudden decisions as uncertainty still remains. There is some hope that a deal will be arranged and there is pressure from Mexico to have this wrapped...
GBP/CAD Rates Fall after Disappointing Outcome at EU Summit for British PM

CAD Forecast – BoC Interest Rate Decision Unlikely to Boost CAD’S Value (Mattew Vassallo)

Any clients with a short-term CAD currency exchange requirement will be keeping a close eye on Wednesday’s Bank of Canada (BoC) interest rate decision and subsequent monetary policy statement. The BoC are expected to keep rates on hold at 1.25% and with economic uncertainty around the Canadian economy at record highs, I would be very surprised to see a rate rise even muted under current market conditions. The CAD itself has been under increasing pressure for much of 2018, with heavy losses against Sterling and the...
Pound unsteady against the Canadian Dollar as Brexit vote just a week away

CAD Forecast – Positive Employment Data Helps to Boost CAD’s Value (Matthew Vassallo)

The CAD has found plenty of support against Sterling over the past week, hitting 1.7946 at today’s high. This move back below 1.80 has brought some much needed respite to those clients with upcoming CAD currency positions to execute, having seen the Loonie marooned above this threshold over recent months. This improvement has come in line with a positive run of economic data, which including March’s employment figures. These confirmed that 32,000 jobs had been added to the Canadian economy last month, keeping the current unemployment...
GBP/CAD Forecast: Pound to Canadian rates volatile on Oil and Brexit

Canadian Dollar Strength on Positive NAFTA News

The Canadian dollar has bounced back strongly with good gains across the major currencies including the pound. The Canadian dollar strength has come about after it has been reported that Canada will be largely exempt from the majority of the major changes in the NAFTA agreement which is still being negotiated after many months of uncertainty. The news is welcome for the Canadian economy knowing that trade will continue in a positive manner and gives some reassurance to the Canadian dollar. Rates for GBP CAD...
GBP/CAD Rates Fall after Disappointing Outcome at EU Summit for British PM

Loonie strengthens due to NAFTA negotiations

Yesterday morning the Canadian dollar made substantial gains against the US dollar as reports were released that the White House want to put forward a preliminary NAFTA framework on the 13th April at the Peru summit. Any news that President Donald Trump will not be scrapping the NAFTA agreement is good news for clients selling Canadian dollars. For news as it unfolds and how it is impacting your currency pairings feel free to email me on drl@currencies.co.uk to lodge your requirements. In other news Canada are...