Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

BoE Interest Rate Decision Could Halt Sterling’s Rise (Matthew Vassallo)

GBP/CAD rates have spiked this week, providing those clients holding the Pound with some much needed respite. Sterling has gained almost 6 cents at the high, from its lowly positon below 1.70 at the start of the trading week. Sterling has benefited from some political stability, with Theresa May today being confirmed as the UK’s new Prime Minister. This has helped to alleviate some of the pressure on Sterling, which had been building since the Breixt result and David Cameron subsequently resigning his post...
Pound Sterling Forecast – Could the Pound Fall Lower Still?

GBPCAD Rates shift on the Bank of Canada news!!

GBPCAD exchange rates have had a very volatile afternoon as we see the Bank of Canada announce the possibility of further moves in the future. The Oil price has also been a big factor on exchange rates as we see the market changes and investors seek to capitalise. The market expectations is for the CAD rates to fall further as sterling weakens on the Brexit uncertainty. If you need to buy Canadian dollars then making some plans in advance is the best way forward, tomorrow...
Pound to Euro Outlook: GBPEUR Rates Reach 4-Week Interbank Highs

Canadian Dollar boosted after GDP figures meet expectations (Joseph Wright)

The Canadian Dollar has received a boost to it's value after the GDP figures came out at 0.2% as expected in the early hours of this morning. This is actually a fall from the previous figure of 0.5% but with the figure meeting expectations the currency has gained almost across the board. With the oil price weakening recently the Canadian Dollar has been under pressure due to it's commodity currency status, but that hasn’t really affected the GBPCAD pairing as Sterling is under immense pressure...
Pound Sterling Forecast – Could the Pound Fall Lower Still?

Pound to Canadian Dollar rates and the Queen’s speech (Joshua Privett)

Buying Canadian Dollar rates of exchange using the Pound have taken a hammering as of late due to positive news emerging from Canada, contrasting the prolonged and uncertain atmosphere in the UK. But after a week and a half of delays in announcing the new Government and its plans, this may be about to change. The Queen's speech and the commencement of the new Parliament begin today, and some clarity on the UK's situation may finally bring some life to the Pound. Speculation has been rife....
Pound to Euro Outlook: GBPEUR Rates Reach 4-Week Interbank Highs

GBP/CAD exchange rates

GBP/CAD exchange rates are set to be the focus for markets today with a host of UK economic data to be released with the potential to cause serious volatility in Sterling's value. Furthermore, Governor Poloz of the Bank of Canada will be speaking this afternoon - his recent mention of negative interest rates mean that markets will listening intently to his intentions for the economy now that crude oil prices have hit an 11 year low. Today UK inflation data will likely cause the fifth consecutive...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

Canadian Dollar Still Uncertain over NAFTA

The Canadian dollar continues to remain on the back foot as uncertainty surrounding NAFTA remains the primary concern for the Canadian economy. The Bank of Canada has raised its concerns over the issue as well and its Governor Stephen Poloz has hinted at not raising interest rates until the future is more clear on this matter of trade. The Bank of Canada surprised the markets last July when it raised interest rates by 0.25% which was later followed up with another hike in the Autumn....
Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

Will GBP/CAD Rates Continue to Rise? (Matthew Vassallo)

Sterling has made significant gains against the CAD over the past 10 days, with the Pound gaining over 8 cents during this period. This has provided those clients holding Sterling with some much needed respite  following some bleak months for the UK economy and an excellent opportunity to sell their sterling positions at a much higher value, than many would have anticipated only a couple of weeks ago. The Pound has struggled against the uncertainty surrounding the UK’s Brexit and how this will be facilitated following...
Pound to Canadian Dollar Rate Remains Towards the Top of Its Range Despite Fears of Brexit Negotiation Delay

The Pound gets a boost as weaker oil prices drive the Canadian Dollar down,...

The Pound to Canadian Dollar exchange rate received a boost today and recovered some of its recent losses, after the Canadian Dollar dropped as oil prices hit the headlines. With the Canadian economy being reliant on its exports, and oil being one of its largest exports the value of oil is therefore likely to impact the Canadian Dollar.  This is what's known as a commodity currency and those planning a currency exchange involving the Loonie should be aware of this as it can lose/gain value when...
Pound to Canadian Dollar outlook Will Sterling struggle against the Canadian Dollar?

Will the UK cut Interest Rates? (Dayle Littlejohn)

Since the UK's decision to leave the EU, the pound has been losing momentum against the Canadian Dollar. The next key decision that will impact GBPCAD exchange rates is the UK's interest rate decision next Thursday. Governor of the Bank of England Mark Carney had already eluded to cutting interest rates last week and many speculators believe this could be as early as next Thursday. Personally I have to disagree. I believe it's far too early for the Bank of England to actually know the exact...
Pound Sterling Forecast – Could the Pound Fall Lower Still?

Hawkish Bank of Canada Governor Boosts Loonie (Ben Fletcher)

The Governor of the Bank of Canada Stephen Poloz this week suggested the low interest rate in Canada had done their jobs helping unemployment fall to the lowest level in 2 years. After the Canadian economy had a tough time last year, due to the collapse in the price of oil along with the severe forest fires, things are looking positive. The economy is starting to show signs of growth and a hike may be on the cards soon. The Bank of Canada will meet...