Tag Archives: exchange rates

Further pressure on the Canadian dollar

The Canadian dollar has found itself under pressure over the last 24 hours due to the fall in oil prices. It has been reported that US fuel inventories have risen despite OPEC ordering a cut in production. For new readers, oil is Canada’s largest export and when oil prices fall so does the currencies value. […]

No further hikes for the Bank of Canada

This week Governor of the Bank of Canada Stephen Poloz surprisingly announced that interest rates wouldn’t raised again anytime soon and in fact interest rates could go either way due to fears that household debt is rising to fast. Within the same speech the governor outlined certain factors that are likely to influence interest rate […]

CAD weakness because of oil prices

The Canadian dollar has lost value against all of the major currencies this week due to the decline in oil prices. Oil has taken a hit following Hurricane Harvey as it is being reported that 20% of oil refineries have been shut down due to the flooding.¬†Regular readers will be aware that oil prices and […]

GBPCAD update

Since the start of May GBPCAD exchange rates have dropped 12 cents. To put this into monetary value a ¬£200,000 transfer into Canadian dollars achieves you 24,000 dollars less than 3 three months ago. In recent weeks the pound has lost value against the Canadian dollar due to UK inflation numbers falling last month. Inflation […]

Bank of Canada leave interest rates unchanged (Dayle Littlejohn)

Yesterday afternoon the Bank of Canada released their latest interest rate decision. No surprises rates remained at 0.5% and therefore the decision was a non event. Interest rates have a major impact on that specific currency. When a central bank hikes interest rates, investors flock to that currency for financial gain. On the other hand […]

GBPCAD Stable for the moment? (Tom Holian)

With little data due out at the moment for either the UK or Canada GBPCAD exchange rates have remained relatively quiet. We are coming to the end of the month and at this time there is typically minimal data releases that might impact exchange rates. On Tuesday Canada releases both Import and Export data and […]