GBP EUR Recovers from Early Losses on EU Trade

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,...
GBPCAD Rates: Lack of Faith in the Pound Highlighted by Oil Crisis?

CAD value determined externally

Until Friday this week, with very little data released on the Canadian economy, CAD value will largely be governed by forces outside of its control - such as the US interest rate decision on Wednesday, as well as further oil price fluctuations. The focus pairing for the week, as the paragraph above suggests, will be USD/CAD as the world watches to see if interest rates in it's largest economy will finally rise for the first time since the financial crisis. However, data released today on the...
Gbp to Cad Exchange Rate Hits a 1-Month High as Risk Appetite Returns to Global Markets

Election and the Canadian Dollar

The polls got it incredibly wrong, again, and the Canadian Dollar has swung wildly overnight as a result. We seem to be harking back almost exactly to the UK election, where polls suggested a close race, and then a majority government emerged instead with the Pound strengthening massively as a result. The Liberals gained a staggering 54% of the vote, when on Friday they were forecasted to receive a mere 35%. The Canadian Dollar was weakening slightly yesterday with this forecast in mind, because those forecasted...
Canadian Dollar Suffers Seven-Week Low Following the Spread of the Coronavirus

CAD buying rates still low

CAD rates across the board, whether USD/CAD, GBP/CAD or EUR/CAD are still remaining stubbornly low ahead of the election on Monday - I have never seen this level of apathy towards an event which will affect the country for years to come. Especially when polls are close. There are three possible reasons for this, one of which has been touched on in earlier posts. The recent rises in oil prices have hailed a new confidence in the CAD which had previously been causing the consistence slides on...
Canadian Dollar Suffers Seven-Week Low Following the Spread of the Coronavirus

Canadian Dollar expecting a big few days

The Canadian Dollar has undergone a largely uneventful day as we wait for the big days on Friday and Monday with Canadian unemployment data and the Canadian election as well.  Yet there was still significant movement on the markets this afternoon. This was mainly due to the excitement surrounding better than expected economic performance in the US. Canada's neighbors are now out of negative inflation! Furthermore the amount claiming unemployment fell by more than 40,000 to instill much of the confidence lost in the us...
Pound to Canadian Dollar outlook Will Sterling struggle against the Canadian Dollar?

Canadian Dollar still very volatile

The Canadian Dollar's value is still shifting parallel to a rollercoaster-like oil market. Last week Oil prices rose by 10% in total, this was matched by a 4% decline overnight on Monday heading into Tuesday. The Canadian Dollar fell away slightly from recent gains as a result. The reason for the decline was a reduction in Chinese imports by 20% last month alone, which caused many to question whether forecasts for future oil demand would overstated, causing oil prices to fall again. The general trend, however,...
Pound to Dollar Rate Pushed Higher by Risk-on Mood

GBP/CAD back above 2.0!

GBP/CAD rates have recovered slightly overnight with the news that oil prices dipped marginally after their recent one month highs on the markets. Like currency movements, oil prices were never meant to move in a straight line. It seems that US stocks of Crude Oil did continue to increase even though production has decreased now that shale and fracking has become less economical. This indicated that demand had fallen slightly as well. With the Canadian Dollar so heavily tied to the value of the oil price,...
GBP EUR Exchange Rate: Weekly Review July 16  

GDP figures boost Canadian Dollar

*Breaking news* we have just had the revised figures for Gross Domestic Products in the Canadian economy for the month of July. A significant barometer for measuring growth in the economy, these data releases normally have a powerful effect on Canadian Dollar exchange rates. The growth in the economy for the single month of July came in at +0.3%, and this was even when oil prices were at their lowest. The Canadian Dollar itself has received a lot of attention from the news. Previously GBP/CAD...
GBP EUR Exchange Rate: Weekly Review December 4th  

GBP/CAD reaches 2.03

GBP/CAD rates have been slowly correcting upwards following the massive gains for the Canadian Dollar after the events of last week. The correction, however, is only slight, showing that the same market forces are still in place with market participants still trying to free themselves of their Sterling to purchase Canadian Dollars. The announcement by Janet Yellen, the head of the Federal Reserve Bank of America, concerning the near certainty of an interest rate hike in the US has caused severely ripples across the currency...
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

Canadian Dollar week-long gains

The Canadian Dollar has had its most positive week in months, even with an election on the horizon which normally makes investors reluctant to get involved with the currency in question due to the uncertainty on its future financial policy. The first boost was this weeks rise in oil price by more than 2.5% following the announcement of reduced drilling output for the US, as the prolonged low oil price has made their shale oil uneconomical to produce. As a major exporter the value of...