Author: Robert Jessi

The Pound to Canadian Dollar (GBP/CAD) exchange rate traded in a narrow range last week as investors balanced UK political developments against stronger Canadian inflation and softer oil prices. At the time of writing, GBP/CAD was trading at CA$1.8755, little changed on the week. Latest — Exchange Rates:Pound to Canadian Dollar (GBP/CAD): 1.87384Euro to Canadian Dollar (EUR/CAD): 1.6161Dollar to Canadian Dollar (USD/CAD): 1.41946 DAILY RECAP: The Pound (GBP) proved resilient last week, with Sterling holding steady despite Prime Minister Keir Starmer’s resignation. The move had already been largely priced in by GBP investors, meaning the announcement did little to unsettle…

The US Dollar to Canadian Dollar (USD/CAD) exchange rate remains close to multi-year highs, trading around 1.4195 after rallying almost 3% during June. Citi has upgraded its USD/CAD forecasts, raising its three-month target to 1.43 from previous estimates and lifting its six to 12-month forecast to 1.42, reflecting a more constructive outlook for the US Dollar. The bank believes policy divergence remains the key driver, arguing there is “asymmetric scope for policy divergence” as the Federal Reserve signals a willingness to tighten while the Bank of Canada remains constrained by subdued core inflation and uncertainty surrounding the USMCA trade agreement.…

The instinct to “go American” makes sense but can be expensive When London accepted a new job opportunity in Seattle, he assumed one of the first things he would need to do was convert his Canadian investment portfolio into U.S. dollars. Like many Canadians moving south, the logic seemed straightforward: If he was going to live, work, and spend money in the United States, shouldn’t his investments be in U.S. dollars too? At the time of his move, London had approximately $500,000 invested in a non-registered account at a Canadian financial institution. The problem? Currency conversions are not investment decisions—they…

MHRA validates Nuvation Bio’s taletrectinib application in UK

Canada’s financial services sector, long characterised by stability and concentration among a handful of large banks, is undergoing a decisive digital transformation. Over the past 18 months, a confluence of regulatory reform, infrastructure modernisation and fintech innovation has begun to reshape how money moves, how data is shared and how consumers interact with financial institutions. The result is not merely incremental change, but the foundations of a more open, competitive and technology-driven system. The most significant shift has been the long-awaited arrival of consumer-driven banking, more commonly known as open banking. After years of consultation, the federal government confirmed in…

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USD The dollar slipped for a second session on Friday, the ending the week around 101.2, though the index still held a roughly 0.3% weekly gain. The centrepiece this week is Thursday’s June payrolls report, pulled forward ahead of Friday’s July 4th closure. We look for a headline print broadly in line with consensus, which projects 115k jobs added in June and unemployment steady at 4.3%. That is an outcome we think favours no change rather than further hikes, though two successive payroll beats temper that conviction. ISM manufacturing and JOLTS feature midweek, and Warsh speaks at Sintra on Wednesday.…

The Pound to Canadian Dollar (GBP/CAD) exchange rate traded in a narrow range last week as investors balanced UK political developments against stronger Canadian inflation and softer oil prices. At the time of writing, GBP/CAD was trading at CA$1.8755, little changed on the week. Latest — Exchange Rates:Pound to Canadian Dollar (GBP/CAD): 1.87384Euro to Canadian Dollar (EUR/CAD): 1.6161Dollar to Canadian Dollar (USD/CAD): 1.41946 DAILY RECAP: The Pound (GBP) proved resilient last week, with Sterling holding steady despite Prime Minister Keir Starmer’s resignation. The move had already been largely priced in by GBP investors, meaning the announcement did little to unsettle…

The Bank of Canada (BoC), RBC Capital Markets, RBC Investor Services, TD Bank Group (TD), and Export Development Canada (EDC) successfully completed Project Samara, a collaborative initiative to evaluate how tokenization and distributed ledger technology (DLT) can improve bond issuance and settlement in a real-world setting. As a key milestone in the experiment, EDC issued this week Canada’s first tokenized bond using DLT, with payments settled in wholesale central bank deposits. The bond was sold and traded and will be managed throughout its life cycle on the Samara Platform. The Samara Platform was designed for the experiment to support end-to-end transactions throughout the bond’s life cycle—including cash and…

Mark McCormick, chief FX strategist at BMO Capital Markets, joins BNN Bloomberg to discuss how a hawkish U.S. Fed affects the macro backdrop. The Canadian dollar remains under pressure as a stronger U.S. economy and shifting Federal Reserve expectations lift the U.S. dollar. With central banks providing less forward guidance, investors are relying more heavily on economic data to gauge the path for interest rates and currencies.BNN Bloomberg spoke with Mark McCormick, Chief FX Strategist at BMO Capital Markets, about the outlook for the loonie, why the U.S. dollar continues to strengthen, and how a more data-dependent approach from central…