Gbp to Cad Exchange Rate Hits a 1-Month High as Risk Appetite Returns to Global Markets

Could the Pound hit 1.80 against the Canadian Dollar? (Tom Holian)

The Pound has continued to remain strong against the Canadian Dollar recently as the NAFTA deal is still causing uncertainty between the US and Canada. This has been going on for months and although there were some positive comments earlier this month it is still far from getting resolved. Indeed, the Canadian Dollar is now close to a three year low against the US Dollar and we are getting close to pre-referendum rates for GBPCAD exchange rates. The problem with NAFTA is that Canada exports...
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...
Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

Will an oil sell-off wipe out the Canadian Dollars recent gains? (Joseph Wright)

We've written extensively about the relationship between oil and the Canadian Dollar on this blog before, and this month that relationship has really been a talking point as the price of oil dominates financial headlines and CAD has experienced a volatile month. Crude oil prices have risen 15% in August, mostly off the back of speculation that OPEC members will reduce output but also a weakening US Dollar has boosted oil's demand as the commodity is priced internationally in US Dollars. The Canadian Dollar has spent...
GBPEUR Higher as Merkel Faces Lockdown Backlash

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...
GBPEUR Rejected by 1.17 Price Level Again

Sterling Makes Gains Against CAD – Markets Brace Themselves for Article 50

Sterling has made gains against the CAD during the early part of the trading week, with the pair moving through 1.67 at the high. The Pound has performed well against most of the major currencies this week but the gains made against the Loonie were more pronounced due to the steep drop in oil prices recently. Crude oil is Canada’s main export, so any slowdown in this sector generally coincides with a drop in the CAD’s value and as such the Pound could make a...
GBPEUR Rejected by 1.17 Price Level Again

GBP/CAD – Is there any hope for Sterling?

GBP/CAD Forecast The true impact of the vote to leave the EU is ever present on the currency markets. The pound having fallen significantly against all major currencies. There has been little data of consequence out this week form the UK but we have still seen the pound's value drop. This is predominantly due to high probability that there will have to be a hard brexit after Francois Holland and Jean Paul Junker indicted there would be no trade negotiations unless Article 50 was triggered. Theresa...
GBPEUR Heads Lower After Data, BoE Comments

USD/CAD and EUR/CAD exchange rates the focus for the day

The long awaited US interest rate decision will be released today.  With the US being the largest economy in the world, and a significant proportion of of global debt being denominated in US Dollars, this decision will likely affect all major currencies. For the Canadian Dollar, the two major currencies in question which will be swinging wildly as a result, will be USD/CAD and EUR/CAD (to a lesser extent GBP/CAD). USD/CAD has already come under pressure and may fall below 1.32 soon, and EUR/CAD however,...
GBPEUR Rejected by 1.17 Price Level Again

GBP CAD Breaks Over 1.69 over NAFTA Uncertainty

The Canadian dollar has weakened this week with levels for GBP CAD breaking back over 1.69 for this pair. There is currently a good opportunity to buy Canadian dollars with pounds which may not be around for too much longer. The spike has come about after concerns over the renegotiation of the North Atlantic Free Trade Agreement (NAFTA) have come to light. There have been reports that there is a chance that one side could walk away from the agreement entirely. Canada is also feeling...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

Canadian Dollar Still Uncertain over NAFTA

The Canadian dollar continues to remain on the back foot as uncertainty surrounding NAFTA remains the primary concern for the Canadian economy. The Bank of Canada has raised its concerns over the issue as well and its Governor Stephen Poloz has hinted at not raising interest rates until the future is more clear on this matter of trade. The Bank of Canada surprised the markets last July when it raised interest rates by 0.25% which was later followed up with another hike in the Autumn....
GBPEUR Rejected by 1.17 Price Level Again

Bank of Canada keeps Interest Rate on hold but could they rise soon?

The Bank of Canada has kept interest rates on hold today as we get closer to understanding further what they plan for monetary policy in the future. The BoC has brought forward their plans to hike interest rates in the future, prompting some small rises in the value of the Canadian dollar against most currencies. GBPCAD which has risen to almost 1.67 has fallen back to 1.66 which is presenting a much-improved position to buy pounds with the Loonie. If you are buying Canadian dollars...