Pound Sterling Softens Against the Canadian Dollar, but a Week of Economic Data Releases Will Test Both

What will move GBP/CAD this week? (Daniel Johnson)

  Tuesday 31st January - Canadian GDP & Manufacturing PMI Tomorrow will see the release of Canadian GDP. Gross Domestic Product is released by statistics Canada and is a measure of the total value of all goods and services produced by Canada. GDP is a broad measure of Canadian economic health and activity and if there is a move against expectations expect volatility on GBP/CAD. Thursday 2nd February -  UK Data - PMI Construction, BOE Asset Purchase Facility, Interest Rate Decision and Carney's Speech First up on Thursday we...
GBPEUR rate remains steady as markets await the Autumn Budget

GBP/CAD Rates Continue to Slide (Matthew Vassallo)

GBP/CAD rates have levelled out over the past week following some heavy losses earlier this month. GBP/CAD rates dropped by almost 10 cents, following UK Prime Minister Theresa May’s comments regarding the triggering of Article 50 early next year. Whilst we knew this was coming the timeline was shrouded in uncertainty and the confirmation rocked the markets and sapped investor confidence, which in turn caused the Pound to lose value. We did see a mini recovery for Sterling earlier in the week, which was halted following...
Pound to Canadian Dollar Exchange Rate: Gains for Sterling After Bank of Canada Uncertainty

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 rate hits 20 month low could further falls be in store for the Pound

What can we expect next for GBPCAD exchange rates?

Overall the market is expecting the pound to enter a more volatile phase as we get further news on just what to expect from the Brexit plans and negotiations. The market has been pricing in sterling weakness and as such the triggering of Article 50 was at the end of a bit of a non-event. Market watchers expecting some big improvements in the rate were left disappointed by the lack of movement but at least it wasn't bad news for Canadian dollar buyers. Sterling...
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...
UK PMI Data Limits GBP Whilst CAD Awaits Further News on the US-China Deal

Sterling hits best rate to buy Canadian Dollars in 21 months (Tom Holian)

The Canadian Dollar has continued to weaken across the board hitting fresh lows against Sterling during the course of this week. The Loonie has fallen after Bank of Canada Governor Stephen Poloz suggested that further interest rate hikes may come slower in order to allow the economy to grow without causing inflationary pressures. The Canadian Dollar has struggled a lot in the last few months partly triggered by the ongoing uncertainty caused by the NAFTA talks which are still far from being sorted. Fears of a trade...
Resilient Canadian Dollar Faces Week of Influential Data and Bank of Canada Policy Decision

GBPCAD at post-Referendum highs!

The pound is looking much stronger against the Canadian dollar as we get closer to understanding what Brexit will mean, markets are being kinder to the pound in the expectation of a softer Brexit which will see less disruption to the UK economy and therefore is less of a concern for sterling holders. GBPCAD rates are also higher on the uncertainty over the pace of future Canadian interest rate hikes, in short the good news for Canadian dollar buyers looks likely to continue. Of course...
Resilient Canadian Dollar Faces Week of Influential Data and Bank of Canada Policy Decision

Sterling rallys against the Canadian Dollar following inflation data release (Daniel Johnson)

Will Sterling gains be short lived against CAD? Sterling has strengthen against the Canadian dollar following a a rise in UK inflation. GBP/CAD now sits above 1.61.  The reason for the rise for Sterling was Consumer Price Index (CPI) data. CPI is a measure of inflation, if provides a comparison in price changes on goods and services. It is a key barometer as to the health of the UK economy. Inflation is a serious concern for the UK and is a direct result of Brexit. The...
Pound to Canadian Dollar Exchange Rate: Gains for Sterling After Bank of Canada Uncertainty

Impact on GBCAD rates – Canadian Interest Rate decision and UK GDP figures (Tom...

The Pound has made some small gains vs the Canadian Dollar during the last few days as there have been a few signs that the Brexit talks may be a little more positive than previously thought. Prime Minister Theresa May was in Brussels towards the end of the week and rumours are that the Europeans are being a little more open to negotiation. This has helped the Pound make some gains vs the Canadian Dollar and I think we will see GBPCAD exchange rates remain within...
Pound to Euro forecast Sterling slides against major currencies as Brexit negotiations stall

Sterling rises against the Canadian Dollar following UK manufacturing data (Tom Holian)

The Pound has made advances against all major currencies during this morning's trading session following the release of UK manufacturing data which came out a lot higher than expected. The figures for August came in above expectation at 53 compared to last month of 48 and not only is above 50 a positive but the figures were hugely better than expected leading to Sterling strength vs the Canadian Dollar. This provides further evidence that although the Brexit had a devastating effect at the time the economic...