GBPEUR rate remains steady as markets await the Autumn Budget

GBPCAD continues to slide!

GBPCAD rates have continues to slip from the very recent highs which saw the levels rise to near 1.70. Having spent much of the last few weeks in the lower 1.60's and even less than 1.60, the recent spike presented a much improved fresh opportunity for clients looking to buy Canadian dollars with pounds. Overall the market seems likely to favour the Loonie as improving Oil prices and also a weaker pound support the GBPCAD slide. The price of Oil has risen which has supported...
GBPEUR rate remains steady as markets await the Autumn Budget

Could the Pound hit 1.70 vs the Canadian Dollar? (Tom Holian)

Sterling vs the Canadian Dollar is now trading close to its best level to buy Canadian Dollars since early November following the release of today's Autumn Statement by Chancellor Philip Hammond. The Pound has been making progress towards 1.70 but has not yet been able to make a sustained berate of this level highlighting the resistance at this particular exchange rate. The price of crude oil is now at a 2 year high of USD$58 per barrel which typically would be a good thing for the...
Pound to Canadian Dollar forecast Brexit news continues to dominate movement for the GBPCAD exchange rate

Could the Canadian Dollar fight back vs the Pound? (Tom Holian)

The latest interest rate decision for Canada will be announced later today but there is little expectation of a change from the current level of 0.5%. Policy makers in Canada have been highlighting a number of issues over the last few months and we have seen the Canadian Dollar weaken heavily during this time vs the Pound. GBPCAD exchange rates have been heading towards 1.80 recently but have started to slip as the problems of inflation have caused the Pound to wobble recently. The problem for the...
GBPEUR rate remains steady as markets await the Autumn Budget

Bank of Canada predicted to hike rates (Daniel Johnson)

Is a Rate hike justified by the BOC? This afternoon is the Bank of Canada (BOC) interest rate decision. The expectations are that there will be a hike from 1% to 1.25%. Bank of Canada Governor, Stephen Poloz has stated a change in interest rate would be data dependent. If this is the case then  a rate hike should occur today. We have recently witnessed the best unemployment data in four decades. Personally, I am of the opinion a rate hike in the current climate is...
Pound to Euro forecast Sterling slides against major currencies as Brexit negotiations stall

Oil price drop leads to further weakness for the Canadian Dollar (Daniel Wright)

The Canadian Dollar dropped off a little in trading yesterday, as investors and speculators dropped off some of their bullish bets (in favour of Canadian Dollar strength) due to the drop off in oil prices witnessed yesterday afternoon. At one point oil prices were down by 2% and although the tight link between the Canadian Dollar and oil prices is not as tight as it has been in recent times it still does have an impact on the price of CAD as we saw over...
GBPCAD Exchange Rate on the Rise with Brexit Party Ruling Out Tory Seat Contention

NAFTA talks drag on which causes the Canadian Dollar to weaken against the Pound

The Canadian Dollar has once again come under pressure against the Pound as the three countries involved in the NAFTA negotiations are not close to a deal yet. US Congress appears to be running out of time at the moment in order to approve a new deal and with the Mexican election just over 3 weeks away I think it will be difficult to get things organised in the short term and this uncertainty is causing a problem for the Canadian Dollar. According to one source...
GBPEUR rate remains steady as markets await the Autumn Budget

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 Euro rate near 26-week high on low ‘No Deal’ Brexit risk

Canadian Dollar loses value due to Trump Tariff (Daniel Johnson)

Lumber Tariff weakens the Canadian Dollar The Canadian dollar has lost ground against Sterling following Trump's decision to impose tariffs on lumber exports from Canada. The dairy trade dispute has escalated.  There is a new Canadian milk policy which US producers are unhappy with stating it violates the North Atlantic Free Trade Agreement (NAFTA). The US have responded by putting in place anti-subsidy tariffs of nearly 20% on lumber imports. Lumber has been a matter of contention between the the two since the 80s. Canada...

Sterling fails to hold on to its recent gains, where to next for the...

After rising earlier in today's trading session the Pound has seen a sell-off this afternoon, and with quite a busy week planned this week in terms of economic data releases, I think the Pound could be in for further falls later this week. The reason for the Pound's gains last week can be put down to the Brexit plan now being clearer after the UK PM, Theresa May outlined her Brexit plans during a speech last Tuesday. Furthermore, the GDP figure for the final quarter of...
Pound to Canadian Dollar outlook Will Sterling struggle against the Canadian Dollar?

What can we expect next for GBPCAD exchange rates?

GBPCAD exchange rates have risen back to some of the best rates to buy CAD with the pound since before the Referendum. Overall expectations are for the pound to continue to rise should the EU deal be concluded which could happen as early as today. If you are looking to buy the Canadian dollar with the pound then you could be in for some very favourable opportunities should this all go according to plan today. The Canadian Governor Stephen Poloz has also given some indications...