GBP/CAD — News Archive

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Canadian Dollar Mixed As Crude Surges, GDP Dips in April

The Canadian dollar is trading mixed against several major currency rivals on the Canada Day holiday. The loonie is benefiting from the rally in crude oil prices, but its advancements might be capped as the market forecasts a slip in manufacturing numbers ahead of crucial jobs and trade data later this week.

Canadian Dollar Mixed on Disappointing Auto Sales, Rising Energy Prices

The Canadian dollar is mixed at the end of the trading week, finding direction against several currencies on recent automobile sales data and rallying crude oil prices. The loonie is trying to take advantage of the many dovish comments at the Federal Reserve, further helping the dollar pare its losses in the last week.

Canadian Dollar Unable to Keep Momentum From Strong Data

The Canadian dollar is weakening on mixed data on Tuesday. The loonie has been unable to keep the momentum from last week’s stellar economic data, gradually paring its gains against the greenback on the year. The Canadian buck could further weaken over the summer as the central bank is unlikely to put forward an aggressive normalization strategy until at least after the federal election.

Canadian Dollar Rises on Crude Rebound, Boost in Labor Productivity

The Canadian dollar is strengthening on Thursday, driven by the rebound in crude oil prices and an increase in quarterly labor productivity. Manufacturing and trade data were also published, contributing to the near-term direction of the loonie. Despite the disappointing numbers as of late, Canadians are less pessimistic about the economy, especially after the US recently lifted tariffs.

Canadian Dollar Weakens on Shrinking Economy, Business Sentiment

The Canadian dollar is weakening on Tuesday after new data showed that the economy contracted in February, reducing some of its gains in January. Thanks to sluggish resource output, analysts are beginning to forecast an economic slump in the first quarter. This could explain why there is declining business sentiment nationwide.

Canadian Dollar Slumps to Four-Week Low Ahead of BOC Rate Decision

The Canadian dollar weakened to a four-week low on Tuesday ahead of the Bank of Canada (BOC)’s decision on interest rates. The market is anticipating a prolonged pause to rate hikes, which suggests that officials are not confident that the economy can withstand a move to normalize monetary policy. Investors also traded the loonie on rallying energy prices, as well as data that showed nearly half of Canadians are on the brink of insolvency.

GBP/CAD Indecisive

The Great Britain pound vs. the Canadian dollar seems to have stalled at an important resistance, but does not show signs of willingness to give up without another try.

Canadian Dollar Rallies on GDP, Energy Prices

The Canadian dollar is rallying to finish the trading week, buoyed by economic growth beating market expectations and rising energy prices. Despite the multiple bearish forecasts regarding the loonie’s future, the currency recorded an impressive 2% to 3% gain against its most-traded rivals in the first quarter of 2019.

Canadian Dollar Sideways Ahead of Key BOC Rate Decision

The Canadian dollar is trading sideways on Monday ahead of an important announcement on interest rates by the Bank of Canada (BOC). The loonie is also struggling to find an upwards direction because of sliding crude oil prices, weak economic data, and a rallying greenback.

GBP & CAD Fall on Poor Data, Interest Rate Outlook

The Great Britain pound fell during the past trading week on poor macroeconomic data and concerns that the Bank of England will postpone the planned interest rate hike. The Canadian dollar had the similar issues.

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