Pound to Canadian Dollar Forecast Steady Tone for the Canadian Dollar Ahead of Key Domestic Data Due This Week

CAD value currently stable

CAD has found stability following the BOC's pre-emptive decision to deploy a rate cut. This was hoping to safeguard the economy from the effects of historically low oil prices, worsened by the expected glutting effect once Iranian oil becomes available for global purchase. The only slight spike has been by about a Cent for GBP/CAD rates following the announcement yesterday that the Bank of England may consider an interest rate hike as early as November (data permitting). So we are faced with extraordinary buying opportunities, and...
Buoying GBP looks for stability whilst dovish CAD could slide

Will GBPCAD reach 1.70?

The pound has risen to fantastic fresh highs against the Canadian dollar which is an excellent opportunity for any clients looking to buy Canadian dollars with pounds. If you are looking to make any kind of currency transfer in the future buying Canadian dollars these levels may not last for too long and making the most of them could be very worthwhile. Expectations on the rates for the future are mixed but overall I would expect the pound to lose further ground against most...

On-going OPEC Discussions Continue To Weigh On CAD’s Value

Despite few major economic new announcements this week we’ve had a volatile past couple of days, and the Canadian Dollar has been one of the losers so far, falling against both the USD and the Pound. The Loonie has been weakening off the back of volatility in the energy markets, with the Organization of the Petroleum Exporting Countries (OPEC) making headlines as Iran, perhaps the troublesome member of the group currently, has stated that it’s prepared to freeze production output of Crude oil, but not...
GBPEUR rate remains steady as markets await the Autumn Budget

Canadian Dollar benefits from rebound in oil prices (Joseph Wright)

The Pound is trading at almost a 3 year low against the Canadian Dollar, as you would have to go back as far as October of 2013 to see the pair trading below 1.7000. The UK's 'Brexit' has been behind most of the recent substantial drop as currency markets were hoping for a vote to remain within the EU, but after recovering somewhat after the Pounds initial steep drop in the aftermath of the Brexit vote, the downward trend has returned once again. Not only is...
GBPEUR rate remains steady as markets await the Autumn Budget

Will Sterling go up against the Canadian Dollar? (Tom Holian)

Oil prices are currently running out of steam and this is the first time in a week that oil prices have fallen. Since the OPEC meeting at the end of November they decided to reduce production in an attempt to increase prices of oil. As a petro-dependent currency the Canadian Dollar strengthened vs Sterling but today we have seen a rebound for GBPCAD exchange rates as the Pound has gained from the Italian referendum news over the weekend. The main driver of exchange rates for Sterling...
Pound to Canadian Dollar Forecast Steady Tone for the Canadian Dollar Ahead of Key Domestic Data Due This Week

GBP/CAD likely to continue its downward trend on ‘Brexit’ fears (Joseph Wright)

The rate of exchange for Sterling sellers has taken a significant hit over the past week or so, and with the EU Referendum now just around the corner I can't help but think this trend will continue over the short term. Whilst the Pound has been under pressure due to the political uncertainty surrounding the vote on the 23rd of this month, the Canadian Dollar has been benefiting from surging oil prices which have magnified Sterling's weakness, meaning that this month alone the Pound has...

Sterling Canadian Dollar Rates Continue Gradual Climb Higher (James Lovick)

Sterling exchange rates have made a decent recovery against the Canadian dollar over the last two weeks with a near five cent movement for this pair. The pound has continued to see major volatility over the Brexit implications and most recently the developments from Mark Carney. The global uncertainty and future price of oil is also weighing on the Canadian dollar and has seen a sizeable shift in GBP CAD. This Thursday has the potential to be a major market mover however with the...
Pound to Canadian Dollar rate hits 20 month low could further falls be in store for the Pound

GBPCAD drops like a stone

This afternoon the Bank of England announced their latest interest rate decision and the monetary policy committee voted in favour of hiking interest rates to 0.5% which was the first rate hike in 10 years.  Many of my clients were under the impression that the pound would soar against the Canadian dollar off the back of the news however the pound actually dropped over 1.5% against the Canadian dollar. The rate hike was seen by investors as a dovish hike. What I mean by this...
GBPCAD Exchange Rate on the Rise with Brexit Party Ruling Out Tory Seat Contention

GBP/CAD Rates Marooned Under 1.75 (Matthew Vassallo)

GBP/CAD rates remain marooned under 1.75 on the exchange, with the Pound struggling to continue its recent advances. The pair are current trading around 1.73 but despite yesterday’s better than expected UK Gross Domestic Product (GDP) figures, Sterling struggled to sustain this improvement. The UK economy remains extremely fragile in the eyes of investors and I cannot see any major improvement until we have a clearer picture of how, and when the UK intends to facilitate its exit from the EU. We also have...

GBP/CAD rates tumble

It seems that the post yesterday was right to stress caution and avoid gambling with the data released on UK interest rates. In the UK the decision on interest rates is conducted by the 9 members of the Bank of England Board, and a majority of 5 is necessary for an amendment to the base rate. It was widely expected that 2 or 3 of the members would vote for a rate hike, getting us on the cusp of a majority after months where it was...