losses are likely. This week has not been a particularly good one for the Pound (GBP) overall, but the British currency has still registered gains against a weak Canadian Dollar (CAD) thanks to Markits better-than-forecast PMI results. The, pound (GBP) has risen against the, canadian Dollar (CAD) today, trading at a level of CA1.7042 in the pairing. We still have some of the most influential data yet to come out this week, in the form of Services PMI and the rate decision from the UK and Building permits and a rate decision from Canada. Canadas May jobs market report failed to meet market expectations, falling short of forecasts in most major prints. Stronger-than-expected UK inflation or retail sales would help the Pound to Canadian Dollar (GBP/CAD) exchange rate to climb next week.
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The news will come as a welcome relief for Canadas steel industry as the tariffs on all steel imported into the US had been due to come into effect by the end of Tuesday. Meanwhile the Canadian Dollar (CAD) was in a strong position to take advantage of the weakness in GBP last week as it was buoyed by the continued strength of oil, with prices holding close to a three-year high. Higher UK Average Earnings could Cause GBP/CAD Exchange Rate Rise. If you need to buy or sell a currency, make the most of your money and complete the enquiry form for a free, no obligations discussion about your needs. Optimistic Forecast from Bank of England (BoE) could Boost GBP/CAD Exchange Rate. Written by James Skinner, the Canadian Dollar is lacking a clear narrative to drive it in one direction or the other at present, according to strategists at Toronto-headquartered. Friday, 02 November 2018 16:29 Written by James Skinner The Canadian Dollar handed back earlier gains and slipped lower midway through the final session of the week after the latest official data showed the labour market cooling its heels in October, which will do little. Home cAD » Pound Sterling to Canadian Dollar Exchange Rate Forecast: Can Higher Wage Growth Bring GBP/CAD Gains? This struck another heavy blow against Sterling as it suggests the UK economy may have got gotten off to an even poorer start in the second quarter than it did at the start of the year. Top Story: Buy the Canadian Dollar says Goldman Sachs. BoE policymakers arent expected to adjust interest rates from.75, but might still prompt a GBP/CAD exchange rate rise if they have a suitably optimistic outlook. In the meantime Canada will publish its latest GDP figures on Tuesday afternoon, with the Canadian Dollar (CAD) potentially strengthening if domestic growth is shown to have sped up again in February, as expected.
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