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The Canadian Dollar lagged behind other major currencies ahead of the weekend but Statistics Canada's confirmation of a resilient local economy could help to sustain the Loonie's recent outperformance up ahead and may even embolden recent sellers of GBP/CAD and USD/CAD.
March 31,2023
"In terms of alpha-generation – we like being short GBP/CAD from here" - CIBC.
March 31,2023
The Canadian Dollar outperformed all major counterparts in the opening half of the week but the scale of its earlier losses and the Loonie's linkages to the U.S. Dollar are just some of the reasons why multi-month rallies in GBP/CAD and EUR/CAD could extend further in the weeks ahead.
March 30,2023
The Pound to Canadian Dollar exchange rate remains close to one-year highs but with resistance immediately overhead on the charts the risk is of it being confined to roughly a 1.6768 to 1.6849 range over the coming days.
March 27,2023
The Pound to Canadian Dollar exchange rate appeared to lose momentum around one-year highs against a risk-averse global market backdrop ahead of the weekend but could be likely to remain above 1.67 in the days ahead.
March 26,2023
The Canadian Dollar rose against a softer Pound on Tuesday but RBC Capital Market says it could push GBP/CAD back to early February lows if the Federal Reserve (Fed) revives the U.S. Dollar this Wednesday or if there is any further turmoil in the banking sector of the stock markets.
March 21,2023
The Pound to Canadian Dollar exchange rate has eroded an important technical resistance on the charts to reach three-month highs early in the new week but could rise further up ahead if the Bank of England (BoE) surprises market expectations by lifting Bank Rate again on Thursday.
March 26,2023
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