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...
Pound to Euro Exchange Rate Outlook: Busy Week Ahead for GBP to EUR Rates

GBP/CAD rates rise briefly as the Pound gets an artificial boost (Daniel Wright)

After almost hitting 1.92, Sterling has benefited from a mass-influx of currency from the European mainland. The sudden deterioration in talks with Greece has forced many investors to flee to safe haven currencies such as the Pound. In doing so, they have driving up the value of Sterling on the currency markets, which is why in the first few hours of trading this morning rates have glided back up to 1.94. This should be viewed as another golden opportunity for Canadian Dollar buyers. We are...
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...
Canadian Dollar Suffers Seven-Week Low Following the Spread of the Coronavirus

Expect significant volatility for GBP/CAD rates today

Today will be a mixed day for the Canadian Dollar and its currency pairs. There will be an unprecedented 13 significant data releases for the US economy today, all of which offer an insight to the economic strength of Canada's largest trading partner. The data varies from the amount of natural gas storage to the amount of jobless claims in the US, some will be positive, and some negative, so rates will be moving significantly, but they may end up staying in the 1.94's. The...
Gbp to Cad Exchange Rate Hits a 1-Month High as Risk Appetite Returns to Global Markets

GBP/CAD rates hold at 1.94 as US GDP figures come in as expected (Joshua...

There were no surprises today, as US economic data came in as expected. They have revised down the amount the US actually shrank during the first quarter of 2015 from -0.7% to -0.2%. While this may not sound like much, half a percent of an economy which produces tens of trillions worth of goods every year is more than enough to turn some heads. We have written a lot recently about about how much the US economy has a knock-on effect on the Canadian economy,...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

GBP/CAD rates holding steady in the 1.94’s

Yesterday's data on Durable Goods Orders in the US came in terribly, which weakened the Canadian Dollar enough to bring rates back up into the low 1.94's and remain there. Durable Goods Orders are a measure of bulk and long-term purchases that can't be filled immediately by the supplier. Such as 20,000 cars or 15 Boeing Planes. Due to the delay in producers being able to supply these orders to the consumer, those who are purchasing must guess what demand would be like in the...
Pound to Canadian Dollar Rate Remains Towards the Top of Its Range Despite Fears of Brexit Negotiation Delay

GBP/CAD Rates climbing once more – 1.94 Reached briefly this morning

This kind of volatility is frankly surprising. Most analysts were expecting the rates to settle down after the shock announcements dealt with on this website during Friday's trading session. The rates are moving up because of some poor news expected this afternoon about the long-term projections of the American economy, and their trade relationship with Canada. But to move the rates up by almost two cents in a single morning of trading is disproportionate to how important this data release is frankly. Markets on...
Pound Stronger vs Canadian Dollar this Morning

GBP/CAD rates fall as markets digest the news from last week (Daniel Wright)

From briefly hitting 1.95 on Friday, GBP/CAD rates have fallen to 1.93 in a single morning of trading and seem to still be falling. There are a few reasons why, but those who have a Canadian Dollar requirement over the next few months, should consider their options. It would take quite a monumental data release like the one last week to shift rates up to 1.95 again. As we have seen today it is difficult for the rates to even stay at that level...

*Breaking News* – GBP/CAD Rates Soar – Close to 1.95 and climbing! (Joshua Privett)

Shock news as severely poor Retail Sales figures for the Canadian economy came in this afternoon. The consensus among analysts was to expect a 0.7% increase for sales in the retail sector, instead a contraction of 0.1% was recorded. GBP/CAD rates are now at a 7 year high, surpassing the previous 6 year highs recorded last month. Inflation data came in much more positively than expected. For the next year it had previously been forecasted at 2.1% but has now been revised higher to 2.2%. While this...
Will Pound to Euro Rates Gain in September?

GBP/CAD Best rates – CAD strengthens as UK trading markets open

This morning the markets have been open a mere few minutes and those looking to buy CAD have already lost half a cent on the exchange rate. Even with all the capital flying into Sterling with the potential of a Grexit in the Eurozone, the Canadian Dollar is one of the few major currencies to be strengthening against the Pound at the moment. This suggests that the data to be released at 1:30pm GMT today will likely be more positive than expected. The post below...