GBP/CAD Best rates – CAD strengthens as UK trading markets open

GBPEUR Rejected by 1.17 Price Level Again

This morning the markets have been open a mere few minutes and those looking to buy CAD have already lost half a cent on the exchange rate. Even with all the capital flying into Sterling with the potential of a Grexit in the Eurozone, the Canadian Dollar is one of the few major currencies to be strengthening against the Pound at the moment.

This suggests that the data to be released at 1:30pm GMT today will likely be more positive than expected. The post below aptly describes that the inflation data and retail sales figures to be released are already expected to be poor. This has been a factor for why the rates have been moving further in the favour for GBP/CAD transfers this week. But should this data come in slightly better than expected, which this market behaviour is currently suggesting, these historic highs will likely tumble back down to the 1.91/1.92 territory.

If I had a Canadian Dollar requirement I would be inclined to move before this data release today, or at least be in a position to move as soon as the figures come out so that I do not buy at the low of the day. Call 01494 787 478 to discuss with me how to stay in contact throughout the day and receive a free quote on your transfer.