Canadian Dollar Exchange Rate Forecasts

by Jon Beddell Foreign Currency Market Update – GBP / CAD Update Sterling rebounded from the 1.60 level last week after data showed that retail sales rose 1.1% in July, more than the 0.4% that analysts were expecting. The minutes from the latest Bank of England meeting were released on Wednesday, quashing speculation that the [...]

by Jon Beddell Foreign Currency Market Update – GBP / CAD Update After twice bumping into a clear barrier at 1.6200 in early July we sold off four cents from the July 16th peak. Thursday’s market beating retail sales figures for June failed to help on Thursday, but the Pound was quick out of the [...]

by Jon Beddell Foreign Currency Market Update – GBP / CAD Update Markets greeted the UK’s emergency budget with relief last week, bidding up the value of sterling as fears of a credit downgrade receded in light of positive initial comments by ratings agencies and economists. While making cuts that may dent economic activity, the [...]

by Jon Beddell Foreign Currency Market Update – GBP / CAD Update Sterling has had a bad week. The election uncertainty created high levels of volatility, and the final outcome does not appear to have give the markets much comfort. Much of the downside in the GBP/CAD rate can be attributed to CAD strength as [...]

by Jon Beddell Foreign Currency Market Update – Australian Dollar Update A couple of key data items helped to sooth sterling investors last week. The UK purchasing managers index rose to the highest level since the start of the recession, and a final revision to fourth quarter GDP put growth at 0.4%, higher than originally [...]

by Jon Beddell Foreign Currency Market Update – Canadian Dollar Update Since the dramatic slide on March 1st sterling has been edging lower still, showing no inclination to drag itself out of the downward spiral.  This is worrying.  That the pound cannot muster any strength even after such a big sell off only points towards [...]

by Jon Beddell Foreign Currency Market Update – Sterling / Canadian Dollar Even after last Monday’s dramatic plunge, sterling failed to retrieve any of those losses against a very strong Canadian dollar. Most other sterling crosses showed at least some bounce, but this one simply spent a few days consolidating at the lows before making [...]

by Jon Beddell Foreign Currency Market Update – Sterling / Canadian Dollar Sterling had already broken the key support at 1.6250 last week (this was the October low) and then made a failed attempt to break back above that level at the end of the week in the foreign exchange markets. Things got dramatically worse [...]

by Jon Beddell Foreign Currency Market Update – Sterling / Canadian Dollar Sterling is rapidly deteriorating toward last year’s lows at 1.6250. The currency failed to take any lasting reassurance from Wednesday’s release of the minutes of the last Bank of England meeting, which showed that all nine committee members voted to halt the quantitative [...]

Market Update – GBP / CAD We got within two cents of the October lows last Thursday, but sterling has managed a little rally this week, initially reacting to positive December retail data, and then jumping on hawkish comments from BoE policy member Andrew Sentance. Many analysts are now expecting the bank to halt the [...]