Important Canadian Data due out this afternoon to impact GBPCAD exchange rates (Tom Holian)

GBPCAD Rates: Lack of Faith in the Pound Highlighted by Oil Crisis?

The Pound has dropped below 1.70 to buy Canadian Dollars after a poor start to the year for the Pound.

Sterling exchange rates across the board have been under pressure and this has been particularly evident against the Canadian Dollar which has strengthened over the last few weeks owing to the rise in oil prices.

As Canada is such a huge oil producing nation the rise in value of the price per barrel will often help to strengthen the Canadian Dollar vs Sterling.

Later this afternoon Canada releases both Import and Export data for November as well as the Unemployment rate.

Both are extremely important and can have a big impact on the the rate to buy or sell Canadian Dollars so if you’re in the process of making a currency transfer involving Canadian Dollars then keep a close eye out on rates later on this afternoon. For a quick quote feel free to call me directly on 01494725353 and ask for Tom Holian when calling in.

Next week the focus will turn back towards what is happening on the UK and in particular Wednesday with the release of Industrial and Manufacturing Production data as well as Trade Balance for November.

If you have a need to make a currency transfer in the coming days, weeks or months then feel free to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency compared to your bank or another currency broker.

Even a small improvement in the exchange rates can make a big difference so feel free to to email me and you may find you could save yourself hundreds if not thousands of Pounds. You can email me (Tom Holian) on [email protected] and I will respond to you as soon as I can.