How Is COVID-19 Effecting GBP to CAD Exchange Rate?

GBPCAD levels at range high? Oil production returns making CADs more expensive to buy

Buying the Canadian Dollar has been becoming cheaper to buy and still stands strong.  This week however we have a host of economic data which will drive markets. This afternoon we have had the Bank of Canada update which is a quarterly report.  This highlighted the recent weakening on the economy following the fires hitting oil production areas.  Oil fields are however now back up to speed resulting in some CAD strength being seen.  Generally as an oil exporter the production and value of the...
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

NAFTA Breakdown threatens the Canadian Dollar? (Daniel Johnson)

NAFTA Negotiations are set to be problematic. The North American Free Trade agreement is key to the health of the Canadian economy. The agreement between the US, Canada and Mexico is under threat as US President , Donald Trump feels the deal is nowhere near as beneficial as it should be to the US. Canada is heavily reliant on the US purchasing it’s exports, if the deal is changed or indeed axed this could have a significant impact on the Canadian economy and in turn the...
Will Pound to Euro Rates Gain in September?

CAD continues to go from strength to strength (Joseph Wright)

The Canadian Dollar has continued to climb in line with the improving oil price, as Sterling finds itself in the unenviable position of August's biggest loser of the major currency pairs. The Canadian Dollar is closely correlated to the value of oil as it's the country's biggest export, so with oil recently hitting a one month high it's no surprise to see the Loonie posting gains, and I think it's worth noting that CAD has gained on the USD for around 6 consecutive trading sessions...
Will Pound to Euro Rates Gain in September?

Sterling Showing Signs of Recovery (Matthew Vassallo)

GBP/CAD rates have improved over the past 24 hours, bringing some much needed respite to those clients holding Sterling. The Pound has been under a huge amount of pressure since last Thursday’s EU referendum, when 52% of the country voted for the UK to leave. This sent shock waves through the market and the Pound has suffered against every major currency as a result. Whilst this was not surprising considering the markets stance was very much pro remain, the decline has left many wondering why...
Canadian Dollar Suffers Seven-Week Low Following the Spread of the Coronavirus

GBP/CAD Forecast – UK & Canadian Economic Activity Slowing (Matthew Vassallo)

GBP/CAD rates have remained flat during Wednesday’s trading thus far, floating around 1.65 on the market exchange. Investors remain sceptical as to which direction both the UK & Canadian economy may take, with both under pressure for various reasons. Looking at the UK and the Pound’s value has decreased over recent months dropping, by over 10 cents in the past 6 months.The Pound has managed to gain a foothold above 1.60 but any major advances look unlikely under current market conditions. We did see improvement yesterday, following...
Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

GBP/CAD rates catapulted back up to 1.95! (Joshua Privett)

A multitude of factors have come together today to allow the Pound to gain a further 2.5 cents against the Canadian Dollar in a single day of trading. To put this in perspective, between the high and the low of today a $200,000 purchase was £1,300 cheaper to achieve on a well timed transfer! Firstly, investors fearful of a volatile Greek crisis has moved into safer currencies such as Sterling, which has artificially boosted its value due to increased demand. This began immediately this morning. Secondly, disappointing...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

Could GBPCAD break into the 1.70s before the referendum? (Dayle Littlejohn)

With the UKs referendum in regards to EU membership only 8 days away the golden question is how far will the Pound fall against the Canadian dollar? Come June 23rd I wouldn't be surprised to see GBPCAD in the 1.79s and then depending on the outcome rates could fall further or increase back towards 2. Today the UK release their latest Interest Rate decision. There has been speculation if the UK were to leave the European Union the Bank of England would be forced to cut...
Will Pound to Euro Rates Gain in September?

What can we expect next for the Canadian dollar?

The Canadian dollar is looking slightly weaker against the pound which has surprisingly found some form lately. We are still not out of the woods for the Brexit and it does feel the Canadian dollar should from the fundamental considerations being strengthening very soon. More often than not currency rates move in advance of an event and I think this is why rates are so good. If you are looking to buy Canadian dollars we are at some of the best rates to sell pounds for...
Brexit and Coronavirus Weigh on GBP as Oil Price Collapse Causes CAD Value to Fall

Quiet end to the year for the Pound vs the Canadian Dollar? (Tom Holian)

The Pound vs the Canadian Dollar has remained in a very tight range during the course of the week as the festive season draws ever closer. With few economic data releases coming in the short term I think we could see GBPCAD exchange rates remain in a very tight range until the end of the year which means if you're comfortable with exchanging money at these levels it may be worth getting things organised. The Pound has generally speaking had quite a positive year against the...
Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

CAD Strengthens Following BoE Interest Rate Decision (Matthew Vassallo)

Yesterday’s much anticipated Bank of England (BoE) didn’t’ fail to disappoint, although the outcome for the markets was perhaps more unexpected. GBP/CAD rates dropped to towards 1.67 and despite a recent downturn in the Canadian economy, the CAD gained over two cents against the Pound. GBP/CAD had been trading comfortably above 1.70 last week and this fall, was not in line with many investors expectations. This improvement for the CAD came, despite the Bank of England (BoE) raising interest rates for the first time in over 10...