How Is COVID-19 Effecting GBP to CAD Exchange Rate?

Pound to Canadian Dollar rate hits a 3-month low after BoE member fails to...

Investors and clients hoping to change Pound into Canadian Dollars at higher rates have been left disappointed today. In this flat market many within the financial services has been awaiting the comments from Bank of England governor Ben Broadbent this lunchtime, as many had hoped that he would make a reference to his his option on whether there should be an interest rate hike in the UK in the short term future. We've been receiving mixed messages from the BoE recently and after an almost 50:50...
Canadian Dollar Suffers Seven-Week Low Following the Spread of the Coronavirus

CAD buying rates still low

CAD rates across the board, whether USD/CAD, GBP/CAD or EUR/CAD are still remaining stubbornly low ahead of the election on Monday - I have never seen this level of apathy towards an event which will affect the country for years to come. Especially when polls are close. There are three possible reasons for this, one of which has been touched on in earlier posts. The recent rises in oil prices have hailed a new confidence in the CAD which had previously been causing the consistence slides on...
GBP EUR Trades Above 1.18 After Weak ZEW Data

GBP/CAD rates balancing out

The slide in GBP/CAD rates over the past few days seems to have halted around the 2.03 mark. CAD strength has played a major part in this reversal of fortune where rates briefly hit 2.098 following the event of Black Monday. Stock markets have recovered since, and state intervention  in the Chinese economy has been received well by markets, as a result a more positive outlook for global growth has pushed up oil prices - a key factor in CAD strength and has weakened GBP/CAD as...
Canadian Dollar Saved by Inflation Target Being Met but Outlook Looks Worrying

NAFTA deal still far from sewn up

US threatens non-approval on NAFTA deal if there is no firm proposal in place in three weeks. The North American Free Trade Agreement (NAFTA) is currently in the process of being renegotiated. NAFTA is a free trade deal between the Sates, Mexico and Canada. Trump has made very clear he is unhappy with the current deal and has called it "the worst trade deal in history." The results of the new negotiations could have huge ramifications fro the Canadian Dollar, the US is Canada's largest trading partner. If...
GBPEUR Rejected by 1.17 Price Level Again

GBP/CAD Rates Continue to Slide (Matthew Vassallo)

GBP/CAD rates have levelled out over the past week following some heavy losses earlier this month. GBP/CAD rates dropped by almost 10 cents, following UK Prime Minister Theresa May’s comments regarding the triggering of Article 50 early next year. Whilst we knew this was coming the timeline was shrouded in uncertainty and the confirmation rocked the markets and sapped investor confidence, which in turn caused the Pound to lose value. We did see a mini recovery for Sterling earlier in the week, which was halted following...
Gbp to Cad Exchange Rate Hits a 1-Month High as Risk Appetite Returns to Global Markets

Pound to Canadian Dollar remains at week lows as we await key services data...

Sterling exchange rates have been trading within very thin trading ranges since the snap election last month, and as we await the Services Data PMI this morning the Pound has dipped to it's lowest level in the past week against most major currency pairs including the Canadian Dollar. This morning Services Data will be released at 9.30am and it will offer the markets an indication of the economic situation in the UK services sector by giving an overview of the condition of sales and employment. This...
Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

Will GBPCAD hit 1.70 again?

GBPCAD hit 1.70 ten days ago presenting some of the best rates to buy Canadian dollars with pounds since June.  This is great opportunity considering the outlook for the pound remains very uncertain, Stephen Poloz is the Governor of the Bank of Canada and whilst he has been gently weakening the Loonie lately, the currency is likely to strengthen longer term. Overall markets are expecting the pound could come under more pressure than the Loonie dollar as we still know very little about just what...
GBPEUR Rejected by 1.17 Price Level Again

OPEC Deal causes Oil prices to soar (Daniel Johnson)

Oil reaches an 18 month High The Canadian Dollar is heavily influenced by oil prices due to Canada's significant reliance on oil as an export. Oil prices reached an 18 month high today. This is due to a deal between OPEC and other large exporters of oil to cut production coming into action on New Years Day. The oversupply of oil over the last few years has caused a catastrophic drop in oil price. The Canadian Dollar will no doubt benefit from the deal. If you...
Pound to Canadian Dollar Rate Remains Towards the Top of Its Range Despite Fears of Brexit Negotiation Delay

Cad holds steady as Oil Prices Firm

The price of Oil has risen as the Canadian Oil Sands fires stoke Oil supply fears. Canada's Oil Sands are the world's third largest proven reserves so the worry over just how these fires will impact Oil supply is important. If you need to buy Canadian dollars the price of Oil is an important factor in determining the strength and weakness of the Canadian currency. Canada is a major exporter of Oil so the economy depends heavily on Oil and other commodities such as...
Pound to Canadian Dollar Rate Remains Towards the Top of Its Range Despite Fears of Brexit Negotiation Delay

Canadian Exchange Rates Ahead of Bank of Canada Statement

GBP CAD exchange rates have fallen dramatically following the Bank of England interest rate decision to raise interest rates yesterday and have failed to bounce back today. Anyone looking to sell Canadian dollars for pounds have been presented with an excellent opportunity which came as a surprise to the markets. The fact that interest rates are now not likely to be rising again anytime soon should keep pressure on GBP CAD especially considering the ongoing Brexit negotiations where progress is slow. The Canadian dollar had...