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A round up of the latest Canadian Dollar forecast news items from the Currency News desk.

Canadian Dollar Slumps to 21-Year Low as Trump Imposes Tariffs

3 Feb 2025 at 12 PM - Written by Frank Davies

STORY LINK Canadian Dollar Slumps to 21-Year Low as Trump Imposes Tariffs

The Canadian dollar crashed after President Trump carried out his threat to impose tariffs on Canada, dashing hopes of a last-minute reprieve. The US Dollar-to-Canadian dollar (USD/CAD) exchange rate hit a 21-year high just below 1.4800 before a correction to 1.4680. The Pound to Canadian dollar (GBP/CAD) exchange rate posted 2025...

CATEGORIES: Canadian Dollar Forecasts

Canadian Dollar Weak as Bank of Canada Cuts Rates and Warns of Impact of US Tariffs

30 Jan 2025 at 7 AM - Written by Ben Hughes

STORY LINK Canadian Dollar Weak as Bank of Canada Cuts Rates and Warns of Impact of US Tariffs

The BoC cut rates for a sixth time in a row. More cuts look likely and the Canadian Dollar exchange rate complex is weak. The central bank warned about the potential impact of US tariffs on economic growth and inflation. Wednesday’s Bank of Canada meeting delivered yet another rate cut, its sixth in a row. Rates are now 3%, much...

CATEGORIES: Canadian Dollar Forecasts

Pound to Canadian Dollar Outlook: GBP/CAD Sinks After Strong Canadian Jobs Data

12 Jan 2025 at 8 PM - Written by David Woodsmith

STORY LINK Pound to Canadian Dollar Outlook: GBP/CAD Sinks After Strong Canadian Jobs Data

The Canadian dollar strengthened after stronger than expected Canadian jobs data. Higher US bond yields also triggered another round of Pound selling in global markets. In this environment, the Pound to Canadian dollar (GBP/CAD) exchange rate dipped to 6-week lows at 1.7600 before stabilising. The latest Canadian labour-market...

CATEGORIES: Pound Canadian Dollar Forecasts

Canadian Dollar Rallies from 4-Year Lows as BoC Cuts Rates to 3.25%

12 Dec 2024 at 7 AM - Written by Tim Boyer

STORY LINK Canadian Dollar Rallies from 4-Year Lows as BoC Cuts Rates to 3.25%

The Canadian dollar exchange rates rallied on Wednesday following the Bank of Canada policy decision. The move had been priced in and the central bank also signalled a more cautious stance on further rate cuts which triggered a paring of short positions. The US Dollar to Canadian dollar exchange rate (USD/CAD) retreated to 1.4125...

CATEGORIES: Canadian Dollar Forecasts

GBP to CAD Exchange Rate Jumps on Trump’s Tariff Threat Against Canada

27 Nov 2024 at 8 AM - Written by Frank Davies

STORY LINK GBP to CAD Exchange Rate Jumps on Trump’s Tariff Threat Against Canada

In comments overnight, US President-elect Trump stated that he would impose tariffs on Canada. Mexico and China on the first day of taking office in January. The Canadian dollar posted sharp losses in global markets and the Pound to Canadian dollar exchange rate (GBP/CAD) surged. From 3-month lows below 1.7500 posted late last week,...

CATEGORIES: Pound Canadian Dollar Forecasts

Canadian Dollar Today: Bank of Canada Deliver a 50bps Cut Amid Growth Concerns

24 Oct 2024 at 8 AM - Written by David Woodsmith

STORY LINK Canadian Dollar Today: Bank of Canada Deliver a 50bps Cut Amid Growth Concerns

After three 25bps cuts, the BoC decided to accelerate the easing cycle and deliver a 50bps cut. With disinflation overshooting the 2% target to 1.6%, the bank is now clearly focused on supporting the economy. Another cut is likely in December, although it is not clear whether it will be 25bps or 50bps. Stock markets rolled...

CATEGORIES: Canadian Dollar Forecasts

GBP/CAD Exchange Rate Posts 6-Month Highs on UK Budget Hopes

7 Mar 2024 at 9 AM - Written by Frank Davies

STORY LINK GBP/CAD Exchange Rate Posts 6-Month Highs on UK Budget Hopes

The Canadian dollar has been unable to make any headway in March amid concerns over the domestic economic outlook as higher interest rates bite. The Pound has held firm in global markets on hopes for a UK recovery. In this context, the Pound to Canadian dollar (GBP/CAD) exchange rate has hit 6-month highs just below the 1.7300 level on...

CATEGORIES: Pound Canadian Dollar Forecasts

US Canadian Dollar Rate Outlook: "USD/CAD to find good demand below 1.34 mark" say ING

25 Jan 2024 at 8 AM - Written by John Cameron

STORY LINK US Canadian Dollar Rate Outlook: "USD/CAD to find good demand below 1.34 mark" say ING

Bank of Canada Drops Talk of Higher Interest Rates, GBP/CAD Exchange Rate Hits 7-Week Highs The Bank of Canada held interest rates at 5.00% following the latest council meeting, in line with consensus forecasts. The bank provided no clear guidance on rates, but the Canadian dollar lost ground as the bank statement dropped references...

CATEGORIES: Canadian Dollar Forecasts Pound Canadian Dollar Forecasts

GBP/CAD Outlook: Pound Sterling Tests One-Month Best Against Canadian Dollar

16 Jan 2024 at 8 AM - Written by Ben Hughes

STORY LINK GBP/CAD Outlook: Pound Sterling Tests One-Month Best Against Canadian Dollar

The Canadian dollar (CAD) was undermined by a weaker Bank of Canada (BoC) survey on Monday with businesses reporting increased recession risks. The Pound to Dollar (GBP/CAD) exchange rate strengthened to 1-month highs at 1.7120 before settling just above 1.7100. The US Dollar to Canadian dollar (USD/CAD) Exchange rate advanced to near...

CATEGORIES: Canadian Dollar Forecasts Pound Canadian Dollar Forecasts

Canadian Dollar Underpinned by Jump in Oil Prices

19 Dec 2023 at 9 AM - Written by David Woodsmith

STORY LINK Canadian Dollar Underpinned by Jump in Oil Prices

GBP/CAD Exchange Rate Dips to 5-Week Lows Higher oil prices helped underpin the Canadian dollar on Monday and markets remain confident over Federal Reserve rate cuts in the first half of 2024. The US Dollar to Canadian dollar (USD/CAD) exchange rate dipped to 4-month lows at 1.3350 before a recovery to 1.3400. The Pound to Canadian...

CATEGORIES: Canadian Dollar Forecasts Pound Canadian Dollar Forecasts

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