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...
Will Pound to Euro Rates Gain in September?

Sterling Makes Gains Against CAD – Markets Brace Themselves for Article 50

Sterling has made gains against the CAD during the early part of the trading week, with the pair moving through 1.67 at the high. The Pound has performed well against most of the major currencies this week but the gains made against the Loonie were more pronounced due to the steep drop in oil prices recently. Crude oil is Canada’s main export, so any slowdown in this sector generally coincides with a drop in the CAD’s value and as such the Pound could make a...
Will Pound to Euro Rates Gain in September?

Fluctuations expected for GBPCAD exchange rates this week (Dayle Littlejohn)

This week Canada and the UK are both set to release a host of economic data releases which have the potential to cause fluctuations that clients will wish to take advantage of. This morning the UK release Mortgage approvals and Consumer credit numbers. Mortgage approvals are set to rise however Consumer confidence is set to decline. Therefore there's a strong chance the data releases will counteract one another. This afternoon the Bank of Canada Governor Poloz will address the public in regards to the state of...
Pound to Euro Consolidates Above 1.12 Despite Increased Fear of No Deal Brexit

GBP/CAD rates fall as Sterling loses value against most currencies

It seems that the correction happened sooner than expected. However, it is not by much. We are still comfortably in the 1.97's for GBP/CAD rates. Sterling's fall is mainly due to the tempting buying opportunities available now across the board. So those holding Sterling are buying up other currencies while they are cheap, which in turn lowers those rates as the purchased currency strengthens. This is nothing to do with positive progression in the talks between Greece and her creditors. Overnight there was news announced about the...
GBPEUR: Chances of No-Deal Force GBP to Surrender 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...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

Pound to Canadian Dollar exchange rates see marginal rise to begin the week (Joshua...

Some of the ground lost on Pound to Canadian Dollar exchange rates last week have since been eclipsed with the Pound rallying to begin the week against most major currencies. Last week the Canadian Dollar had a sudden burst of strength following the US attack on Syria. Increased escalation of conflict in the region made many worried about the potential ramifications for oil supply transport in the future. However, now that it has been explicit that this was effectively a single instance of action, the...
GBPCAD Rates: Lack of Faith in the Pound Highlighted by Oil Crisis?

GBP/CAD Rates Marooned Under 1.75 (Matthew Vassallo)

GBP/CAD rates remain marooned under 1.75 on the exchange, with the Pound struggling to continue its recent advances. The pair are current trading around 1.73 but despite yesterday’s better than expected UK Gross Domestic Product (GDP) figures, Sterling struggled to sustain this improvement. The UK economy remains extremely fragile in the eyes of investors and I cannot see any major improvement until we have a clearer picture of how, and when the UK intends to facilitate its exit from the EU. We also have...
Pound to Canadian Dollar outlook Will Sterling struggle against the Canadian Dollar?

Flood of data today should affect CAD only indirectly

Ahead of Friday, where we'll get a transparent look into the Canadian economy through the release of their retail sales figures and their inflation data, today will see a flood of data from the EU, the UK and the US, which will see EUR-CAD, GBP-CAD, and USD-CAD experiencing severe volatility. Monetary policy statements will be announced for the UK and US economies. Markets will be looking for some indication about when interest rates will be raised in both economies. Both have had worries about current...
Will Pound to Euro Rates Gain in September?

GBP/CAD Spikes Ahead of EU Referendum (Matthew Vassallo)

GBP/CAD rates have spiked this week ahead of tomorrow UK EU referendum. The pair moved through 1.88 at the high, almost 5 cents higher than the pair were trading last week. This improvement came in line with spikes for the Pound against all of the major currencies, with momentum once again building for the Remain camp ahead of the UK EU referendum on Thursday. Looking back over the past few weeks and we have seen the momentum shift from one side to the other. This...
Will Pound to Euro Rates Gain in September?

Canadian Dollar Rises on Rising Oil Price (James Lovick)

The pound has finally seen some resistance at these higher levels against the Canadian dollar with a move lower from 1.92 to just below 1.90 this afternoon for GBP CAD. Buyers of Canadian dollars may wish to act sooner rather than later as more volatility is expected for sterling exchange rates ahead of the UK referendum 23rd June 2016. UK GDP released this morning came in as expected at 0.4% although this could still be revised lower going forward which could see the pound weaken...