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Exchange Rate Forecasts

GBP to CAD Forecasts

The Pound to Canadian Dollar exchange rate gave up its Monday gains and plunged to a new weekly low on Tuesday as Britain’s latest Consumer Price Index (CPI) report disappointed Sterling traders. The interbank GBP/CAD exchange rate had trended at around 1.63 since the weekend but fell to 1.62 on Tuesday. The Pound performed strongly [...]

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Disappointing forecasts from the Bank of England weakened the Pound Canadian Dollar exchange rate last week. Last Tuesday saw the Canadian Dollar performing bullishly after the latest GDP figures bettered estimates. Expected to weaken from 1.5% to 1.4%, November GDP instead rose to 1.6% on the year. Month-on-month growth clocked in at 0.4% – ten [...]

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GBP has got off to a fairly poor start to the week, with the currency generally softening due to continuing uncertainty about the future of the post-Brexit UK. The Canadian Dollar’s small advance against the Pound comes in spite of fluctuating crude oil costs and a recent expansion in the national budget deficit. Last week [...]

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Optimism surrounding the UK’s trade relationship with the EU after Brexit pushed GBP CAD away from a three-and-a-half year low to 1.65 last week. The Pound made strong gains last week, rebounding from a sharp drop-off on the news Britain would leave the single market as part of Brexit. The news, revealed ahead of Tuesday’s [...]

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The Pound dropped to its lowest rate against the Canadian Dollar since mid-2013 at the start of this week, owing to an extreme level of investor concern about an upcoming speech from Prime Minister Theresa May. For Canadian Dollar investors, the main point of focus has been whether the incoming US President will be a [...]

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GBP CAD Slides Despite Dip in Oil Prices

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Date: January 10th, 2017.

While risk appetite was elevated at the start of the year, the GBP CAD exchange rate was able to regain some ground on the back of the latest UK PMIs. All three measures bettered expectations to show solid economic growth, with the Services PMI posting a particularly positive result. The Pound trended higher as concerns [...]

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The past seven days has seen the Pound Canadian Dollar exchange rate shed around two cents, despite some solid UK data. Low market liquidity and a slower-than-usual pace of data releases meant traders were as occupied with the outlook for the year ahead as they were with more immediate ecostats. Both the UK and Canada [...]

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GBP CAD Softer as Oil Prices Hit One-Year Best

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Date: December 29th, 2016.

Although Canadian retail sales picked up markedly in October this was not enough to shore up the ‘Loonie’ last week. This positive showing was eclipsed by a disappointing Consumer Price Index report, which indicated that inflationary pressure within the domestic economy had weakened. While forecasts had pointed towards a slight dip from 1.5% to 1.4% [...]

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GBP CAD Drops as UK Strike Actions Escalate

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Date: December 19th, 2016.

Widespread concern about the state of UK travel and transport leading up to Christmas has left the Pound Canadian Dollar exchange rate under pressure. Despite rising oil prices, Canadian Dollar interest has been limited overall, potentially due to concerns about how Trump will impact Canadian businesses. Last week, the Pound fluctuated wildly against the Canadian [...]

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The Pound to Canadian Dollar exchange rate continued edging higher on Tuesday as UK price pressures had a positive influence on GBP trade. This allowed the pair to hold comfortably above the 1.66 level as the ‘Loonie’ Dollar failed to capitalise on Monday’s oil price spikes. Demand for the Pound has been solid so far [...]

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