The Pound to Canadian Dollar exchange rate (GBPCAD) looks set for further declines according to a new analysis from Canadian bank Scotiabank, although short-term indicators suggest the pair might b…
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GBPCAD is about to break the 200-day moving average, opening the door to a determined downtrend.
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The Canadian Dollar is a sell with strategists at CIBC Bank who note market positioning is unsupportive and incoming Canadian economic data is likely to disappoint.
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GBPCAD has been edging lower through the August-September period and is now at a key support zone where failure could confirm the 2023 uptrend has likely ended.
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Those looking for a stronger Canadian Dollar were left disappointed by a Bank of Canada that maintained interest rates at 5.0% and signalled it was in no hurry to hike again.
Read more … →The Bank of Canada forms the highlight of a busy week for domestic drivers of the Canadian Dollar and strategists at Goldman Sachs are positioning for tactical upside in the currency on a 'hawkish'…
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The Canadian Dollar was weaker against all major peers after the release of an unexpectedly weak set of economic growth figures for June and the second quarter.
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