Pound Stronger vs Canadian Dollar this Morning

GBP/CAD Forecast – Brexit Negotiations Continue to Dominate Headlines (Matthew Vassallo)

GBP/CAD rates hit a high of 1.7188 earlier today, although the pair have remained extremely flat during Thursday’s trading. The Pound has seen its recent support soften over recent days, as confusion over the on-going state of Brexit negotiations continues to dominate headlines. Progress regarding the final figure on the UK’s Brexit settlement (rumoured to be as much as 50 billion Euro) and agreements in principal regarding the Irish border and protection of EU nationals in the UK, were seen as a major breakthrough after months...
Light at the End of the COVID-19 Tunnel Aids the Pound

GBP/CAD – Political uncertainty plagues the Pound (Daniel Johnson)

UK politics dictating GBP/CAD The snap election was deemed to be a smart move by Theresa May, unfortunately her cunning ruse did not go to plan. With the opposition so weak it seemed as though the election would be a foregone conclusion. However, with May attacking her core voters by stating those of a specific age would have to pay for their own care we saw many switch their allegiance. This was also combined with a very successful Labor campaign, particularly through social media. With the...

Pound to Canadian Dollar rate falls to its lowest level in 2 months, will...

The panic and uncertainty surrounding the UK at the moment is continuing to weigh on the Pounds value, with the Pound to Canadian Dollar exchange rate hitting its lowest level in 2-months since the election outcome. Political uncertainty is one of the biggest downside risks to a currencies value, and since the election outcome was announced as a Hung Parliament last week the Pound fell by it's biggest margin 1-day margin since the Brexit vote last June. The uncertainty is continuing as the Conservatives are currently...
Light at the End of the COVID-19 Tunnel Aids the Pound

Buying Canadian Dollar rates still softening ahead of Governor Poloz’s speech (Joshua Privett)

Due to the sheer volume of information and events hitting the wire at the end of this week in the UK - the Queen's speech vote, Parliamentary debates on the new manifesto - buying Canadian Dollar rates have been largely absent much influence from Canada itself. This should all change today with a speech from the Bank of Canada Governor Stephen Poloz. The next interest rate decision in Canada is on July 12th, and markets are keen to know whether a rate hike will emerge. In...
Light at the End of the COVID-19 Tunnel Aids the Pound

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...
Canadian Dollar Suffers Seven-Week Low Following the Spread of the Coronavirus

Pound to Canadian Dollar rate drops as Bank of England governor disappoints the markets...

Those of our readers and clients planning on exchanging their Pounds into Canadian Dollars at better exchange rates have been disappointed today, as the Governor of the Bank of England, Mark Carney has disappointed the markets during an early morning speech earlier today. Many had hoped of an interest rate hike, which would most likely of resulted in an upward movement for the Pound, but he quelled hopes early into his speech when he said that the BoE would be willing to overlook the increasing...
The pound to euro exchange rate was flat in early Tuesday trading after the pair erased an early week dip.

GBP/CAD rates set for a fall today

GBP/CAD rates are expected to come under pressure today from the release of manufacturing export data in the Canadian economy. Much of the money normally invested in the oil industry has been diverted into the fledgling manufacturing sector in the Canadian economy. Read inside to see how this could help your GBP/CAD transfer.
Pound to Euro Still Unable to See Post-Brexit Gains

CAD loses ground against all major currencies yesterday with falling oil prices

The losses were slight but widespread. Most were expecting a rise in crude oil prices yesterday as crude oil stocks had dropped for an 8th week in a row, suggesting a removal of the oil glut and an increase in demand. However, this was matched by record output in the U.S of 9.6m barrels per day. So while the U.S. market was increasing it seems they will likely be buying their own stock rather than adding to demand for the overseas markets, which is...
Gbp to Cad Exchange Rate Hits a 1-Month High as Risk Appetite Returns to Global Markets

GBP/CAD Rates surge following ‘Agreekment’ (Daniel Wright)

GBP/CAD rates have breached fresh 8 year highs today - hitting 1.986 briefly on the markets before falling back down to 1.975 by the close of UK trading. This stunned market onlookers, and honestly it took a while for most of us to decipher why rates jumped up so high. Firstly, oil prices tumbled and they are expected to tumble more, as Iran nuclear deal nears. Once the sanctions are lifted against Iran when they agree to halt their nuclear weapons program, prices are expected...
Brexit and Coronavirus Weigh on GBP as Oil Price Collapse Causes CAD Value to Fall

GBP-CAD Rises following poor shipping data (Daniel Wright)

It seems that the post below was right to point out that the data today would be significant. It seems that the Candian economy has not had enough time to successfully diversify, and as such, shipping was down more than 2% last month, as the Canadian economy still struggles to revitalise its export base. While efforts have been made to diversify the economy following the prolonged slump in oil prices throughout the world economy, it seems it is not yet translating into an equally profitable sector in...