Brexit and Coronavirus Weigh on GBP as Oil Price Collapse Causes CAD Value to Fall

GBP/CAD rates still falling

It seems that much of the bad news which is weakening the CAD and strengthening GBP/CAD rates are the result of long-term projections, most of which can easily be solved in the short term before these issues come to the fore. This article explains that the CAD may weaken in the short-term, but these will not be long-term. Data releases next week on Canadian manufacturing and foreign investment figures will likely change this recent trend. Read inside to get an up to date forecast and advice on how to maximise the return on your GBP/CAD transfer.
Pound to Euro Outlook: GBPEUR Rates Reach 4-Week Interbank Highs

Sterling continues to decline as markets await Brexit decision, will the Pound continue to...

The Pound continues to come under pressure against the Canadian Dollar as foreign exchange markets continue to digest the much talked about interview of UK PM, Theresa May over the past weekend. The markets have concluded that May's comments alluded to a preference for a Hard Brexit, whereby the government will focus more on the control of immigration as opposed to making the retention of the UK's access to the single market a priority. Ever since the UK electorates vote in favour of a 'Brexit', markets...
GBPCAD Rates: Lack of Faith in the Pound Highlighted by Oil Crisis?

Further Oil slides weaken CAD

The Canadian Dollar has come under further pressure through the day's trading. Oil prices continued to fall as a panicking market is selling off any securities and futures they are holding, causing CAD value to suffer. Since 'Black Monday', and the subsequent yo-yo-ing of the stock market which proved it was not just a 'blip' or an 'anomaly', investors have been panicking about sudden falls in the value of their holdings. As a result, many are selling off futures, one of the principle futures being...
Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

When Do I Trade GBP/CAD? (Matthew Vassallo)

GBP/CAD rates have dropped over the past week, with a run of inconsistent UK economic data handicapping any further Sterling advances. The pair are now trading near 1.72 on the exchange and as I eluded to in my previous posts, the Sterling strength seen earlier this month proved not to be sustainable. As such, any clients who did not protect their positions will now be questioning whether we will see a recovery over the coming weeks. Whilst it is very difficult to predict exactly how...