Pound to Euro rate near 26-week high on low ‘No Deal’ Brexit risk

Canadian Dollar falls with oil price

The Canadian Dollar has held relatively steady until today following its recent gains against most major currencies. Data was released yesterday which showed global national stockpiles of oil had increased quite dramatically. This caused another surprise drop in oil prices when most market commentators and even companies had banked on prices having bottomed-out already. Stockpiles are how markets gauge current production and future demand. A massive stockpile suggests overproduction, and suggests demand will likely fall in the future. Normally when oil prices are incredibly low,...
GBPEUR rate remains steady as markets await the Autumn Budget

How will the EU Referendum affect my trade? (Daniel Johnson)

Current polls show that 52% of the UK wish to leave the EU. I feel the majority of voters in the leave camp are unaware there will be very little change with regards to migrant control, but if we leave but the impact on the UK economy could be catastrophic. The International Monetary Fund yesterday warned that trade relations will be put under significant strain and exports out of the UK would drop as a consequence. The UK economic growth forecast has now been...
GBP/CAD Exchange Rate Dipped as the Market Prepared for Election, Tory Win Means GBP Has Cashed Back In

EUR/CAD the focus today

Another data light day for the Canadian Dollar and its pairings finds its only exception in EUR/CAD today, with significant releases expected in the Eurozone economy. Import and export data will be published for both Germany and France, and the data for the second quarter GDP figures in the Eurozone will be published. EUR/CAD levels got a welcome boost ahead of these data releases, as markets saw a teaser in the form of strong German Industrial Production figures - which came in showing higher than...
GBP/CAD Exchange Rate Dipped as the Market Prepared for Election, Tory Win Means GBP Has Cashed Back In

How will GBPCAD perform for the rest of the month?

The pound to Canadian dollar has been slipping from the highs of almost 1.68 to more comfortable levels in the 1.64-1.65 range. Most clients looking to buy Canadian dollars are now faced with two key events to try and determine the future direction on the pairing, namely the likelihood of an interest rate hike by either the Bank of England or the Bank of Canada. For both countries Inflation is a key factor in determining whether or not the central bank will raise interest rates....

Could GBPCAD hit above 1.75?

Today is a crucial data for the GBPCAD exchange rate as we get closer to an understanding of the interest rate outlook for the UK which will be a key driver of the pound. Essentially the pound and currency pairings involving the pound have been largely driven by expectations on the interest rate rising for the UK. With the decision due today at 12 noon, GBPCAD could be in for a busy day! The Loonie has been much softer lately as a softening in tone...
Pound to Canadian Dollar Forecast Steady Tone for the Canadian Dollar Ahead of Key Domestic Data Due This Week

GBP/CAD exchange rates rebound upwards in run up to Article 50 vote (Joshua Privett)

Pound to Canadian Dollar exchange rates have had a rollercoaster over the past few days, and all due to news emanating from the UK, with events in Canada largely ignored during this tumultuous period for the UK's economic future. Politics is the name of the game at the moment, but economic data did contribute to some of Sterling losses, with lacklustre housing data early in the morning undermining Sterling's value and seeing Pound to Canadian Dollar rates a less attractive prospect by midday yesterday. Since then,...

Sterling Under Pressure Ahead of UK General Election (Matthew Vassallo)

Sterling has seen some of its recent losses against the CAD reversed over recent days, although the general trend has been a negative one of late. The CAD gained approximately six cents at its high last month, with GBP/CAD rates tumbling below 1.72. Despite Sterling clawing back some of these losses (current trade prices around 1.74), I believe investor confidence in the Uk economy remains extremely fragile and a sustainable increase in value for Sterling remains optimistic at best. The CAD is likely to find some support...
GBPCAD Exchange Rate on the Rise with Brexit Party Ruling Out Tory Seat Contention

20 month high to buy Canadian dollars with pounds!

The Canadian dollar has weakened which is presenting some of the best rates to buy the Loonie dollar with pounds since before the Referendum vote back in 2016. Sterling has risen on the back of increased positive sentiments relating to the Brexit which has seen the pound boosted against all currencies across the board. There have been some very important meetings on Brexit taking place between the Government in the UK where a position on Brexit has been formulated and might well be outlined to...

GBPCAD Stable for the moment? (Tom Holian)

With little data due out at the moment for either the UK or Canada GBPCAD exchange rates have remained relatively quiet. We are coming to the end of the month and at this time there is typically minimal data releases that might impact exchange rates. On Tuesday Canada releases both Import and Export data and with the Loonie having been strong fairly recently this could potentially be a little negative as with a strong currency this is likely to have affected this particular set of data. On...
Pound to Euro forecast Sterling slides against major currencies as Brexit negotiations stall

Canadian Dollar boosted after GDP figures meet expectations (Joseph Wright)

The Canadian Dollar has received a boost to it's value after the GDP figures came out at 0.2% as expected in the early hours of this morning. This is actually a fall from the previous figure of 0.5% but with the figure meeting expectations the currency has gained almost across the board. With the oil price weakening recently the Canadian Dollar has been under pressure due to it's commodity currency status, but that hasn’t really affected the GBPCAD pairing as Sterling is under immense pressure...