Canadian Dollar Saved by Inflation Target Being Met but Outlook Looks Worrying

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...
Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

Sterling Falls Lower against Canadian Dollar (James Lovick)

The pound has slipped lower against the Canadian dollar following a rally higher at the end of November. GBP CAD has now tumbled to 1.66 for this pair having hit resistance just below 1.70 and struggling to break that threshold. Tonight sees the very important US Fed interest rate decision which is likely to have a big impact on all of the major currencies. The Fed are expected to raise interest rates this evening by 0.25% although any market reaction is likely to be...
GBP EUR Edges Higher After Recent Rates Sell-Off

Where next for GBPCAD exchange rates?

The pound to Canadian dollar is still looking very attractive from a viewpoint of previous positioning since the EU Referendum. Canadian dollar buyers with their pounds are enjoying some of the best rates since prior to the vote, a brief rally last week to 1.7658 almost touching the post Referendum high of 1.7776 May 2017. Will this gentle trend higher continue or will GBPCAD soon get pushed back into the 1.60's? Of vital importance will be future economic data from Canada which might give rise...
Pound to Dollar Rate Pushed Higher by Risk-on Mood

Are GBP/CAD Rates Heading for 1.80? (Matthew Vassallo)

Sterling’s recent gains against the CAD have softened of late, with the Pound falling by over two cents in the past week. With the pair now trading around 1.7650 a move through 1.80 is now unlikely in the short-term, with pressure building on the UK economy. Brexit negotiation concerns and a poor run of economic data has put a halt on Sterling’s rise, with no guarantee that we will see a recovery in the short-term. Whilst the Pound has no doubt found a foothold in the market,...
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

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...
GBP EUR Edges Higher After Recent Rates Sell-Off

Volatile Week for Canadian Dollar as Oil Price Crashes (Ben Fletcher)

The cost of a barrel of oil hit a 7 month low this week causing the GBP/CAD rate to finish the week a percent higher than the middle of the week. Sterling has suffered earlier in the week as Bank of England Governor Mark Carney dampened hopes of an interest rate hike in the near future. However the gains made by the CAD were short lived after the price of a barrel of oil started to slip. The cost of oil dropped to $45 for...
GBP EUR Edges Higher After Recent Rates Sell-Off

CAD continues to go from strength to strength (Joseph Wright)

The Canadian Dollar has continued to climb in line with the improving oil price, as Sterling finds itself in the unenviable position of August's biggest loser of the major currency pairs. The Canadian Dollar is closely correlated to the value of oil as it's the country's biggest export, so with oil recently hitting a one month high it's no surprise to see the Loonie posting gains, and I think it's worth noting that CAD has gained on the USD for around 6 consecutive trading sessions...
GBP EUR Edges Higher After Recent Rates Sell-Off

OPEC Deal causes Oil prices to soar (Daniel Johnson)

Oil reaches an 18 month High The Canadian Dollar is heavily influenced by oil prices due to Canada's significant reliance on oil as an export. Oil prices reached an 18 month high today. This is due to a deal between OPEC and other large exporters of oil to cut production coming into action on New Years Day. The oversupply of oil over the last few years has caused a catastrophic drop in oil price. The Canadian Dollar will no doubt benefit from the deal. If you...
GBP EUR Edges Higher After Recent Rates Sell-Off

GBP/CAD – Potential Market Movers (Daniel Johnson)

Could Boris Johnson provide some clarity on Brexit? Tomorrow we will see Boris Johnson discuss Brexit. This does have the potential to move markets if he provides any clarity on Brexit. I would however be sceptical about him causing a significant rise in Sterling value. The real issues that need to be addressed seem to be being avoided. In order for large games for the pound we need clarification on immigration and trade. Theresa May has already indicated the two year target for exit from...
Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

Canadian Dollar Future Still Uncertain over NAFTA

The Canadian dollar remains under pressure following a rocky ride talks in the NAFTA talks. The Canadian dollar has a lot to lose if talks break down and the agreement comes to an end. There have been a number of contentious issues not least the sunset clause which has been called for by the US to allow for termination at the end of the agreed period. Clients looking to buy Canadian dollars with pounds are seeing rates well over 1.69 with levels trying to...