Poor GDP Data for Canada Weighs on Poor Performing CAD Whilst Trump Wobbles the Trade Deal Tensions

Pound to Canadian Dollar outlook: Will GBP/CAD rise or fall on the UK election?

Sterling supported by Brexit extension The pound to Canadian dollar exchange rate has been rising and falling along with the sentiments on Brexit, notably the prospect of a no-deal exit for the UK. This element had been majorly holding back the pound in recent weeks, as investors feared that the UK might be leaving the EU on Halloween with no-deal. More recently, sterling has been rising as investors become more confident over the extension which has now been agreed. We are also awaiting further details regarding...
GBP to CAD forecast Will the Bank of Canada keep interest rates on hold?

GBP to CAD forecast: Will the Bank of Canada keep interest rates on hold?

Bank of Canada expected to keep interest rates on hold The Bank of Canada continues to buck the trend in the face of global interest rate cuts and are widely expected to keep interest rates steady at 1.75pc late this afternoon. The Canadian economy continues to be buoyed by a robust domestic employment market and investor optimism that a long-awaited trade deal may be forthcoming between the US and China in the coming weeks. As a commodity-linked currency, the Canadian dollar will benefit from a...
GBP/CAD Exchange Rate Holds Steady as Investors Wait for US Fed Rate Decision and UK Election Outcome

Sterling remains steady in early trading as details of the Brexit extension are announced

The pound is continuing to hold onto the recent gains made this month, as the pound to Canadian dollar continues to trade around the 1.67 - 1.68 level. Brexit extension granted by EU Donald Tusk announced at 9.30am this morning that EU leaders have agreed to extend the Brexit departure date until the 31st of January, with markets relatively unchanged as this was the general expectation despite some strong words from French President Emmanuel Macron who had alluded to blocking the 3-month Flextension as it's being...
Pound to Canadian Dollar exchange rate Global trade tensions and Brexit to drive GBPCAD rates

Pound to Canadian Dollar exchange rate: Global trade tensions and Brexit to drive GBP/CAD...

The pound to Canadian dollar exchange rate has continued to fall due to Brexit talks coming to a standstill, despite last week’s disappointing Canadian GDP release. Canadian economic developments: Effects on GBP/CAD exchange rate Posting 0pc growth for July, the markets were disappointed with the figures having expected a 0.1pc expansion. Canada’s economy had outperformed during Q2 as oil prices crept up and exports increased enabling the economy to grow at a healthy 3.7pc annualised figure, its strongest in years. However, sterling failed to take advantage...
Poor Canadian economic data sinks its strength

Pound to Canadian Dollar forecast: Brexit news continues to dominate movement for the GBP/CAD...

Brexit and global trade affect Pound to Canadian Dollar exchange rate The pound to Canadian dollar exchange rate remains sensitive to all the latest Brexit developments in the UK as well as the ongoing uncertainty over global trade. Boris Johnson has recommitted that Britain will leave the EU by 31st October 2019 although he faces attacks from both the left and the right of the political spectrum which points to a potential rocky ride for GBP/CAD exchange rates. Yesterday, meetings were held by MP’s from...
Pound to Canadian Dollar outlook Will Sterling struggle against the Canadian Dollar?

Pound to Canadian Dollar outlook: Will Sterling struggle against the Canadian Dollar?

Canadian Dollar sees movement as Trade Wars continue Pound to Canadian dollar exchange rates have been volatile owing to the continued lack of clarity surrounding the Trade Wars. We have seen the Canadian dollar volatile as the markets try to second guess what lies ahead for the dispute with China and the US, plus how this will affect the global economy. As a commodity currency the Loonie dollar is sensitive to developments with the global economy. The Canadian economy is a major exporter of raw materials,...
Poor GDP Data for Canada Weighs on Poor Performing CAD Whilst Trump Wobbles the Trade Deal Tensions

GBP/CAD exchange rates trading back above 1.61 as BoC indicate interest rate cut could...

Pound to Canadian dollar exchange rates tipped 1.62 at overnight on the interbank exchange, but the pound found only fleeting support above this threshold, falling back towards 1.6150 by the opening of European trading. Boris Johnson to meet Angela Merkel in Berlin: Could the fallout of talks affect GBP/CAD rates? Reports this morning have confirmed that UK Prime Minister Boris Johnson is heading to Berlin to meet German Chancellor Angela Merkel later today, with his primary objective to find support for a complete removal of the...
Canadian Dollar Saved by Inflation Target Being Met but Outlook Looks Worrying

Pound to Canadian Dollar rates outlook: Will pound to Canadian dollar levels fall further?

Pound to Canadian Dollar: No deal Brexit probability damaging Sterling value The pound to Canadian dollar exchange rate has been suffering lately as the market continues to price in the possibility of the no-deal Brexit taking place on the 31st October. Expectations are mixed for the outcome on Brexit. Nothing is completely set in stone, but the market is becoming more and more of the opinion a no-deal Brexit will take place. What this means for GBP/CAD exchange rates is that as the uncertainty around a...
GBPCAD Exchange Rate on the Rise with Brexit Party Ruling Out Tory Seat Contention

Pound to Canadian Dollar exchange rate forecast: How will GBP/CAD rates perform ahead?

The Canadian dollar is this year's best performing G10 currency, as reported by Reuters yesterday. It is probably not too surprising therefore that as sterling has been one of the worst performing, pound to Canadian dollar exchange rates have been testing 2-year lows, hitting points not seen since October 2017. What events are upcoming that might change the current trend? Brexit developments to drive Sterling exchange rates Sterling has been weaker on Brexit uncertainties, as investors await clear news on what Brexit means. The pound has...
Poor Canadian economic data sinks its strength

Pound to Canadian Dollar exchange rate falls ahead of new UK Prime Minister

Pound to Canadian Dollar rates continue to slide The pound to Canadian dollar exchange rate continues to test the lower levels in this recent range with rates for GBP vs CAD slipping below 1.63 for the pair. Tomorrow will see the announcement of the next British Prime Minister who will take office on Wednesday and the markets have largely priced in the likelihood that Boris Johnson will take the top job. A speech is expected to be made on Wednesday at 5pm and there is...