How Is COVID-19 Effecting GBP to CAD Exchange Rate?

Will GBPCAD slip below 1.60?

The pound to Canadian dollar rate has slipped from the recent highs of 1.66 in January as investors fears over the price of Oil and other economic worries. President Donald Trump is also a factor on the exchange rate which is affecting the GBPCAD exchange rate. To what extent is the pound likely to recover against the Canadian dollar and is there more chance of it actually collapsing again and GBPCAD falling below 1.60? Markets have been closely monitoring the Brexit situation for attitudes towards...
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

What can we expect next for the Canadian dollar sterling rate?

GBPCAD rates have been improving on the back of sterling rising against its counterparts. This has been helped interestingly by polls in France showing Marine Le Pen is looking strong in her campaign to become President. The pound is often used as a safe haven against the weakness in the Eurozone and the pound is enjoying some improvements against the Canadian dollar this afternoon on the back of this. The big question is will this continue and what can we expect to happen on...
Pound Stronger vs Canadian Dollar this Morning

Bank of Canada interest rate decision this week (Tom Holian)

Sterling vs the Canadian Dollar has continued to trade above 1.90 on the Interbank level as Sterling during the last few trading sessions. The Pound saw gains following some better than expected Retail Sales data showing an improvement to 4.3% from the expected 2.5%. It suggests that the UK economy is actually evidencing some gains and with last week's surprise opinion poll on the Brexit vote showing the Leave campaign in the lead this has helped to boost Sterling exchange rates. However, Sterling has not been able...
GBP EUR Exchange Rate: Weekly Review December 4th  

The impact of a US interest rate hike on the Canadian Dollar (Tom Holian)

In just a few hours time the US Federal Reserve are likely to be increasing interest rates for the third and final time this year. This will be Janet Yellen's final monetary policy conference before she leaves in February and it would be a major surprise if no rate hike occurs. The Bank of Canada have kept interest rates on hold on the previous occasion but it may not be too long before they have to look at their own monetary policy in the months ahead. As...
Canadian Dollar Suffers Seven-Week Low Following the Spread of the Coronavirus

Expect significant volatility for GBP/CAD rates today

Today will be a mixed day for the Canadian Dollar and its currency pairs. There will be an unprecedented 13 significant data releases for the US economy today, all of which offer an insight to the economic strength of Canada's largest trading partner. The data varies from the amount of natural gas storage to the amount of jobless claims in the US, some will be positive, and some negative, so rates will be moving significantly, but they may end up staying in the 1.94's. The...
GBPCAD Rates: Lack of Faith in the Pound Highlighted by Oil Crisis?

NAFTA negotiations to take centre stage

On the 23rd January, the NAFTA negotiations will resume which could be problematic for Canada and consequently have a negative impact on Canadian dollar exchange rates. NAFTA, which is the North American Free Trade agreement, is an agreement between the US, Canada and Mexico and it allows all three countries to trade with one another for free. Since Donald Trump's appointment he has made it clear that the NAFTA trade deal is the worse trade deal in history and he plans to make change as soon...
GBP EUR Looks to Employment Figures for Support

Buying Canadian Dollars – 2 Month High (James Lovick)

The pound has rallied higher against the Canadian dollar after a second opinion poll in the run up to the UK referendum on Europe has put the Remain campaign in front. Sterling has seen sizeable gains across the board although with a market movement of almost 1% for GBP CAD. For anyone buying Canadian dollars there is a much better opportunity to do so with rates at a 2 month high for this pair. This Wednesday sees the Bank of Canada’s interest rate decision where...
Pound to Canadian Dollar outlook Will Sterling struggle against the Canadian Dollar?

Canadian Dollar still very volatile

The Canadian Dollar's value is still shifting parallel to a rollercoaster-like oil market. Last week Oil prices rose by 10% in total, this was matched by a 4% decline overnight on Monday heading into Tuesday. The Canadian Dollar fell away slightly from recent gains as a result. The reason for the decline was a reduction in Chinese imports by 20% last month alone, which caused many to question whether forecasts for future oil demand would overstated, causing oil prices to fall again. The general trend, however,...
GBP EUR Exchange Rate: Weekly Review December 4th  

Sterling drops to its lowest level since the ‘Flash Crash’, will the drop continue?...

Sterling exchange rates have experienced another turbulent afternoon of trading after comments from two prominent UK figureheads have weighed on the Pounds value once again. After quietly recovering some of its recent losses the Pound dropped in value within a matter of moments, wiping away those gains after the governor of the Bank of England (BoE), Mark Carney announced that the BoE cannot ignore the significant drop in Sterling's value. Many instantly conveyed thee comments as a reference to another potential  interest rate cut next week,...
Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

The Canadian dollar is stronger on better Oil prices

As the Canadian dollar rises the GBPCAD rate has slipped lower which is presenting an excellent opportunity to buy the pound with the Canadian dollar that might get better. As we get closer to the Referendum the pound is likely to lose ground which might suggest this transaction becomes even more favourable for CAD sellers. The only way to mitigate the uncertainty is to try and make some plans around the market and how this could pan out. If you are looking to buy or...