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....
GBPCAD Rate Update: Oil Prices Fall, Along With UK Construction Output

Canadian Dollar strengthen as oil edges higher, where to next for CAD exchange rates?

The Canadian Dollar has strengthened throughout today's trading session against most major currency pairs. The reasons for its gains can be put down to positive economic data along with strengthening commodity prices, which is important for the Canadian economy. Oil is one of the major exports for Canada, so seeing the price of oil increase and therefore, the Canadian Dollar isn't unusual. The reasons for the boost to oils value can be put down to increased expectations of US sanctions on Iran. There has also...
Pound Stronger vs Canadian Dollar this Morning

Bank of Canada dovish which leads to Canadian Dollar weakness – NAFTA concerns starting...

We have seen further weakness for the Canadian Dollar during trading today following on from the Bank of Canada Governor Poloz offering a fairly dovish view on the economy in a speech last night. The NAFTA agreement or more importantly the uncertainty behind it is starting to weigh heavily on business confidence in Canada, along with the continued strength of the U.S Dollar which is also leading to the Canadian Dollar weakening. The rise for U.S treasury 2-year notes compared to Canadian 2-year notes is now...
Brexit and Coronavirus Weigh on GBP as Oil Price Collapse Causes CAD Value to Fall

Will GBPCAD break 1.80 this week?

The pound to Canadian dollar exchange rate has seen a big twist and turn lately as the market struggles to price into expectations the changes in sentiment towards both the Canadian dollar and the pound. The Canadian dollar has risen as investors feel a stronger and higher price of oil will boost the Canadian economy in the longer-term. The pound has also struggled as investors step back from the high expectations that have been placed into the market relating to interest rates. The general belief...
Canadian Dollar Saved by Inflation Target Being Met but Outlook Looks Worrying

What can we expect next for GBPCAD exchange rates?

The pound to Canadian dollar has changed dramatically in the last month principally as the Canadian dollar strengthens on the back of a much higher price of oil. The expectation is that the price of oil could rise even further in the coming weeks as investors strive to recalculate the overall values given new information on where this important commodity may go. Canada's main export is oil which is why the value of the Loonie dollar is so heavily influenced by changes in the price...
Pound Stronger vs Canadian Dollar this Morning

Canadian Dollar Boosted on Bank of Canada Outlook

The Canadian dollar has received a boost after Bank of Canada governor Stephen Poloz hinted at further interest rate increases after he said that wage growth is forecast to start rising which would be seen as good for the Canadian economy. However he highlighted that the ongoing NAFTA negotiations are holding back the Bank of Canada from making any sudden decisions as uncertainty still remains. There is some hope that a deal will be arranged and there is pressure from Mexico to have this wrapped...
Pound to Euro: Bank of England Keeps Interest Rates on Hold

Bank of Canada leave interest rates on hold

This afternoon the Bank of Canada left their interest rate on hold at 1.25%. At the press conference Governor Stephen Poloz seemed to be fairly upbeat as he confirmed interest rates could be hiked in the upcoming months as he expects a boost from increased foreign trade and higher wages in the upcoming months. However the Governor did announce that the uncertainty surrounding the NAFTA agreement is still a concern even though the prospects of a revamped NAFTA agreement looks more likely. Earlier in the...
Gbp to Cad Exchange Rate Hits a 1-Month High as Risk Appetite Returns to Global Markets

CAD Forecast – BoC Interest Rate Decision Unlikely to Boost CAD’S Value (Mattew Vassallo)

Any clients with a short-term CAD currency exchange requirement will be keeping a close eye on Wednesday’s Bank of Canada (BoC) interest rate decision and subsequent monetary policy statement. The BoC are expected to keep rates on hold at 1.25% and with economic uncertainty around the Canadian economy at record highs, I would be very surprised to see a rate rise even muted under current market conditions. The CAD itself has been under increasing pressure for much of 2018, with heavy losses against Sterling and the...
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

When is the best time to buy Canadian dollars?

The pound to Canadian dollar exchange rate had been improving at a rapid pace, improving in 2018 by over 14 cents presenting some of the best rates to buy Canadian dollars since the Referendum. The overall expectations for the pound are to see further improvements as we get further clarification on the Brexit and also interest rates. The Canadian dollar has been strengthening owing to the rising price of oil which has seen the Canadian dollar strengthen owing to oil being one of its major exports. The...
Pound to Canadian Dollar Rate Remains Towards the Top of Its Range Despite Fears of Brexit Negotiation Delay

Canadian Dollar Strength on Positive NAFTA News

The Canadian dollar has bounced back strongly with good gains across the major currencies including the pound. The Canadian dollar strength has come about after it has been reported that Canada will be largely exempt from the majority of the major changes in the NAFTA agreement which is still being negotiated after many months of uncertainty. The news is welcome for the Canadian economy knowing that trade will continue in a positive manner and gives some reassurance to the Canadian dollar. Rates for GBP CAD...