Pound Sterling Forecast – Could the Pound Fall Lower Still?

Will the pound rise or fall against the Canadian Dollar?

The Canadian dollar has been a little weaker against the pound which itself has been stronger. GBPCAD is looking a much more attractive for Canadian dollar buyers in the weeks as some of the uncertainty over the Brexit fades for now. Another benefit for Canadian dollars buyers with pounds is that the US dollar is weaker too as the 'Trump trade' loses momentum. Most analysts expect sterling to now perform better and whilstI would not rule out some short term improvements I would also...
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

Canadian Dollar Strength over Uncertainty in Middle East

The Canadian dollar is continuing to make gains across most of the major currencies with a particularly strong improvement against the pound. Rates for GBP CAD have now fallen to 1.7342 creating an excellent opportunity for those clients looking to sell Canadian dollars for pounds. The Canadian dollar has been boosted on the rising price of oil which has stemmed from geopolitical concerns in the Middle East. US President Donald Trump has pulled out of the Iran nuclear deal which is creating uncertainty in the...
Pound to Canadian Dollar outlook Will Sterling struggle against the Canadian Dollar?

GBP/CAD Rates Fall – A Historic Day for the UK Beckons (Matthew Vassallo)

GBP/CAD rates have fallen over the past 24 hours, with the pair now trading below 1.66 again. This move came following a positive run for Sterling, which had made a move towards 1.68 before retracting. The markets focus has been on the UK Brexit for some time and today, finally, the UK will officially trigger Article 50 of the Lisbon treaty, which will officially start the UK’s separation for the EU. Personally, I feel that most of the negative connotations surrounding this have been factored into...
Pound Sterling Forecast – Could the Pound Fall Lower Still?

OPEC Deal causes Oil prices to soar (Daniel Johnson)

Oil reaches an 18 month High The Canadian Dollar is heavily influenced by oil prices due to Canada's significant reliance on oil as an export. Oil prices reached an 18 month high today. This is due to a deal between OPEC and other large exporters of oil to cut production coming into action on New Years Day. The oversupply of oil over the last few years has caused a catastrophic drop in oil price. The Canadian Dollar will no doubt benefit from the deal. If you...
Sterling Declines Ahead of EU-UK Trade Negotiations

GBP/CAD the focus today

GBP/CAD was the focus pairing for the Canadian Dollar today. We are still waiting for the US interest rate decision on Thursday, but there are no new indicators on the probability for this decision, at least none which are obvious enough to affect USD/CAD rates currently. Today inflation data for the UK economy was released which came in as expected, but still disappointingly low. Inflation for August were stable at 0.0%, but being on the precipice of deflation is doing little to help the value...
Pound to Euro Surges to 3-Week High

GBPCAD rates improve to 1.73, will it last?

The pound to Canadian dollar has really risen in the last week as we learn of the UK's General Election being called which is expected to fuel a sterling surge as Theresa May and the Conservative party strengthen their hand. The Canadian dollar is also a little weaker as the US dollar softens and markets remain sceptical about the outcome of the French election. Overall expectations are shifting as to what might be a realistic outcome and performance in such economic conditions, as a...
Pound Sterling Forecast – Could the Pound Fall Lower Still?

Greece approves bailout deal

Greece's parliament approved the bailout deal offered by the European Council last night, with 229 voting for the package and 64 against. Of that 64, half were from the ruling Syriza party. The vote was passed amid a tirade of petrol bombs thrown by protestors outside, but we are finally at a point where a deal seems to be close to being finalised. The bailout now needs to be ratified by the parliaments of several key members. After months now, world financial markets can...
Canadian Dollar Suffers Seven-Week Low Following the Spread of the Coronavirus

Pound to Canadian Dollar rate drops as Bank of England governor disappoints the markets...

Those of our readers and clients planning on exchanging their Pounds into Canadian Dollars at better exchange rates have been disappointed today, as the Governor of the Bank of England, Mark Carney has disappointed the markets during an early morning speech earlier today. Many had hoped of an interest rate hike, which would most likely of resulted in an upward movement for the Pound, but he quelled hopes early into his speech when he said that the BoE would be willing to overlook the increasing...
Pound Sterling Forecast – Could the Pound Fall Lower Still?

Sterling vs Canadian Dollar under pressure owing to Brexit polls (Tom Holian)

After hitting a 4 month high recently Sterling has started to fall against the Canadian Dollar as the Brexit polls appear to have the Leave campaign leading over the Remain vote. With just over 2 weeks to go Sterling has fallen across the board against all major currencies and we could expect further falls over the next fortnight as the uncertainty continues. I personally expect the UK to vote to stay in the European Union when the vote takes place but whilst the opinion polls show...
Pound Sterling Forecast – Could the Pound Fall Lower Still?

OPEC to influence rates to buy Canadian Dollars with Sterling (Tom Holian)

Sterling vs the Canadian Dollar has gone in an upwards direction as oil prices are predicted to fall as Russia has said that it will not attend the current OPE meeting due to take place tomorrow. As the Canadian Dollar is a petro-dependent currency any fall in the value of oil prices causes the Canadian Dollar to weaken vs Sterling and this is what has happened over the last 24 hours. Many countries want to see a reduction in oil output to allow the price per...