Economists at NBC have updated clients with their latest Canadian Dollar forecasts.
August 16,2022
The Pound to Canadian Dollar exchange rate rallied from August lows to open the new week but could climb further up ahead and as far as a short distance above the 1.58 handle if the Loonie builds on Monday’s declines in what will be a busy period for Canadian, UK and U.S. economic data.
August 15,2022
The Pound to Canadian Dollar rate’s attempted escape from near 10-year lows was cut short last week when U.S. economic data conspired with the U.S. Dollar and a resilient Loonie to pull GBP/CAD back toward 1.55 and a level that could continue to exert a gravitational pull through the days ahead.
August 8,2022
CAD is tipped to maintain that outperformance over coming weeks, but by year-end it should start retreating against GBP and EUR.
August 4,2022
The Canadian Dollar fundamental value has risen, leading a BMO Capital Markets financial model to tip the Loonie as a buy this week, although the latest technical analysis from Scotiabank suggests USD/CAD is likely to trend sideways and that GBP/CAD may have scope to climb toward 1.58.
August 3,2022
The Pound to Canadian Dollar exchange rate reached one month highs last week but may get an opportunity to advance closer toward the 1.57 handle in the days ahead if the U.S. Dollar remains soft or the Bank of England (BoE) surprises on the upside of market expectations this Thursday.
August 1,2022
The Pound to Canadian Dollar exchange rate has shown signs of stabilising above the nearby 1.54 level but could continue to have difficulty sustaining rallies when near to the 1.56 handle if the Loonie and North American counterparts remain outperformers of other major currencies in the days ahead.
July 25,2022
The Pound to Canadian Dollar exchange rate entered the new week on the front foot but could struggle to extend its early advance by much in the days ahead unless an action packed UK economic calendar is able to foment a further improvement in market appetite for Sterling.
July 18,2022
The Pound to Canadian Dollar exchange rate remains in the grip of gravity and could be at risk of probing beneath the 1.55 handle afresh in the week ahead if Wednesday’s Bank of Canada (BoC) policy decision provides the Loonie with inspiration for fresh gains over other currencies.
July 11,2022
The Pound to Canadian Dollar rate’s mid-June recovery has been all but scuppered and it now risks remaining suppressed near around 1.55 in the days ahead unless market appetite for the U.S. Dollar and other positively correlated currencies ebbs.
July 4,2022
Quebec based Desjardins Bank are forecasting a steady decline in the value of the Canadian Dollar through the remainder of 2022.
June 30,2022
The Pound to Canadian Dollar exchange rate may be in the process of attempting to reverse a steep multi-month decline but it has so far been stymied by technical resistance around 1.5932 on the charts and may now be likely to consolidate its recent gains near the 1.58 handle in the week ahead
June 28,2022
The Pound to Canadian Dollar exchange rate may be in the early stages of a corrective recovery that could reverse a more meaningful portion of its multi-month slide, according to technical analysis from Scotiabank, which could see GBP/CAD trading up toward 1.65 in the weeks ahead.
June 24,2022
The Pound to Canadian Dollar rate is showing signs of stabilisation following a multi-month decline and could be likely to hold above the nearby 1.57 level in the days ahead, although much depends on price action in USD/CAD as well as economic figures emerging from the UK and Canada.
June 20,2022
The Pound to Canadian Dollar rate slipped to a fresh 10-year low in the opening session of the new week but could fall further over the coming days if the Loonie remains more resilient to the rallying U.S. Dollar and crumbling risk appetite in global markets ahead of Thursday's Bank of England (BoE) policy decision.
June 13,2022
The Pound to Canadian Dollar rate has fallen to new post-referendum lows and could be set to remain under pressure ahead of next week’s UK wage data and Bank of England (BoE) policy decision due to a more hawkish turn in the Bank of Canada’s (BoC) interest rate stance.
June 6,2022
The Pound to Canadian Dollar rate opened the new week on its back foot but could attempt to retest a nearby technical resistance barrier around 1.6157 overhead on the charts if the Bank of Canada (BoC) signals on Wednesday that a slower pace of interest rate rises may be likely up ahead.
May 30,2022
The Pound to Canadian Dollar exchange rate has lifted tepidly from close to three-year lows and has been aided by a supportive turn in UK government bond yields, although it could struggle to advance much beyond the 1.6150 level this week due to the ongoing resilience of the Loonie.
May 23,2022
The Pound to Canadian Dollar exchange rate has stabilised following a nine percent decline since Russia began its faltering conquest of Ukraine, although it could struggle for momentum upon any recovery above 1.59 in the days ahead due to a resilient Loonie and softer Sterling.
May 16,2022
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