GBP EUR Looks to Employment Figures for Support

GBPCAD continues to slide!

GBPCAD rates have continues to slip from the very recent highs which saw the levels rise to near 1.70. Having spent much of the last few weeks in the lower 1.60's and even less than 1.60, the recent spike presented a much improved fresh opportunity for clients looking to buy Canadian dollars with pounds. Overall the market seems likely to favour the Loonie as improving Oil prices and also a weaker pound support the GBPCAD slide. The price of Oil has risen which has supported...
Pound Stronger vs Canadian Dollar this Morning

Canadian Dollar weakens vs the Pound owing to US Tariffs (Tom Holian)

The Canadian Dollar has struggled vs the Pound after a decision made by US President Donald Trump that he will be looking to increase tariffs on softwood lumber coming in from north of the border. Further to this the US and Canada are at loggerheads over a proposed new Canadian milk policy which means that Canada may look to cease importing milk from Wisconsin. Trump responded in a tweet saying 'Canada has made business for our dairy farmers in Wisconsin and other border states very difficult....
GBP EUR Looks to Employment Figures for Support

Sterling gains against the Canadian Dollar following European banking stress tests (Tom Holian)

Sterling has seen some dramatic gains against the Canadian Dollar overnight following the release of the latest European Banking Authority's stress tests. The tests were performed on 51 of the biggest European banks with assets of at least EUR30bn and all four of the major British banks came out well and surpassed the requirements set out for capital buffers. In effect this shows that the British banks would be okay under extreme stress conditions similar to that of the credit crunch. The problem banks including those in...
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...