Pound to Canadian Dollar exchange rate forecast: Will GBP/CAD rates fall further?
Strong Canadian Dollar vs weak British Pound causing steady decline in GBP/CAD rates
The pound to Canadian dollar exchange rate has been on a steady decline since the start of May, when it became apparent Theresa May would be resigning and a more no-deal Brexit supporting PM might take charge. Sterling has been losing ground regularly against most currencies as no-deal Brexit prospects increase, as investors fear the worst ahead.
The Canadian dollar has been stronger too as the price of Oil rises, and also the...
Bank of Canada predicted to hike rates (Daniel Johnson)
Is a Rate hike justified by the BOC?
This afternoon is the Bank of Canada (BOC) interest rate decision. The expectations are that there will be a hike from 1% to 1.25%. Bank of Canada Governor, Stephen Poloz has stated a change in interest rate would be data dependent. If this is the case then a rate hike should occur today. We have recently witnessed the best unemployment data in four decades.
Personally, I am of the opinion a rate hike in the current climate is...
Bank of Canada members to set the scene for the Canadian Dollar as the...
Following on from a fairly flat day for Canadian Dollar exchange rates we have a few points of note for you to keep an eye out for if you have Canadian Dollars to exchange in the near future.
Two members of the Bank of Canada are speaking today, Governor Poloz is speaking shortly and later on in the trading day we also have BOC Deputy Lane speaking later in the afternoon.
Poloz is not expected to raise any large movements, as he speaks at the unveiling of...
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...
What Brexit means for the CAD to GBP forecast
Being the 7th most traded currency in the world, The Canadian dollar (CAD) is in contention for many traders and buyers alike. Many currencies interact with each other and the pairing between the GBP and CAD is no different. With Brexit talks firmly ongoing, the effect it has had on the CAD/GBP pairing is substantial. Analysts and buyers are keeping a close eye on the events of Brexit and what it may mean for the GBP and currencies that overlap with it.
Brexit’s unpredictable volatility
There...
Pound to Canadian Dollar exchange rates: Will the pound fall further once the Tory...
What will happen to GBP/CAD exchange rates after the Tory leadership contest?
Over the last 8 weeks the pound has gradually been losing value against the Canadian dollar. 8 weeks ago GBP/CAD mid-market exchange rates were above 1.77 and now mid-market levels are trading just above the 1.6350. To put this into monetary value a CAD$300,000 purchase now costs clients an additional £14,000. The question many of my clients are asking is whether the pound will fall further once the Tory leadership contest is over...
Pound to Canadian Dollar outlook: New British PM on Wednesday, how could this affect...
Pound to Euro exchange rate outlook: New UK Prime Minister and Cabinet, how will the markets react?
The pound to Canadian dollar exchange rate has bounced higher after much stronger than expected retail sales data yesterday providing a boost for the GBP vs CAD pair. Despite the small improvement, the pound continues to test the lower levels with the ongoing uncertain political situation in the UK. The new Prime Minister will be announced on Tuesday and is highly likely to be Boris Johnson. A new...
GBP to CAD Forecast: Canadian Dollar Receives a Boost, but Investors May Not Be...
Wednesday got the CAD up and running as we hit the middle of the trading week. It beat all its major rivals after a surprise increase in the Bank of Canada’s preferred measures of inflation. However, economists are suggesting that buyers may be looking to cash out and walk away from the currency ahead of its anticipated weakness in 2020. For the GBP, a bumpy road has ensued post-election but yesterday it found some support. However, economists are suggesting that the Bank of England...
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...
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...