Could Brexit developments and the Canadian Interest Rate Decision cause movement for GBPCAD later today?

What can we expect next for GBPCAD exchange rates?

The pound to Canadian dollar has changed dramatically in the last month principally as the Canadian dollar strengthens on the back of a much higher price of oil. The expectation is that the price of oil could rise even further in the coming weeks as investors strive to recalculate the overall values given new information on where this important commodity may go. Canada's main export is oil which is why the value of the Loonie dollar is so heavily influenced by changes in the price...
Pound to Canadian dollar predictions: What to expect this month

Canadian Dollar Boosted on Bank of Canada Outlook

The Canadian dollar has received a boost after Bank of Canada governor Stephen Poloz hinted at further interest rate increases after he said that wage growth is forecast to start rising which would be seen as good for the Canadian economy. However he highlighted that the ongoing NAFTA negotiations are holding back the Bank of Canada from making any sudden decisions as uncertainty still remains. There is some hope that a deal will be arranged and there is pressure from Mexico to have this wrapped...
Pound to Canadian Dollar forecast Reduced chance of no deal Brexit after Supreme Court ruling, where to next for GBPCAD exchange rates?

CAD Forecast – BoC Interest Rate Decision Unlikely to Boost CAD’S Value (Mattew Vassallo)

Any clients with a short-term CAD currency exchange requirement will be keeping a close eye on Wednesday’s Bank of Canada (BoC) interest rate decision and subsequent monetary policy statement. The BoC are expected to keep rates on hold at 1.25% and with economic uncertainty around the Canadian economy at record highs, I would be very surprised to see a rate rise even muted under current market conditions. The CAD itself has been under increasing pressure for much of 2018, with heavy losses against Sterling and the...
Could Brexit developments and the Canadian Interest Rate Decision cause movement for GBPCAD later today?

CAD Forecast – Positive Employment Data Helps to Boost CAD’s Value (Matthew Vassallo)

The CAD has found plenty of support against Sterling over the past week, hitting 1.7946 at today’s high. This move back below 1.80 has brought some much needed respite to those clients with upcoming CAD currency positions to execute, having seen the Loonie marooned above this threshold over recent months. This improvement has come in line with a positive run of economic data, which including March’s employment figures. These confirmed that 32,000 jobs had been added to the Canadian economy last month, keeping the current unemployment...
Pound to Canadian Dollar predictions: Factors that will impact Pound to Canadian Dollar exchange rates

Canadian Dollar Strength on Positive NAFTA News

The Canadian dollar has bounced back strongly with good gains across the major currencies including the pound. The Canadian dollar strength has come about after it has been reported that Canada will be largely exempt from the majority of the major changes in the NAFTA agreement which is still being negotiated after many months of uncertainty. The news is welcome for the Canadian economy knowing that trade will continue in a positive manner and gives some reassurance to the Canadian dollar. Rates for GBP CAD...
Pound to Canadian Dollar exchange rate Brexit keeps GBP fragile against the CAD

GBP CAD Falls Sharply after Positive NAFTA Developments

The Canadian dollar saw a volatile day yesterday making good gains against the pound. Rates for the GBP CAD pair fell sharply from almost 1.84 to a low of 1.8146 creating a small window of opportunity for any clients looking to sell Canadian dollars. The pound has been driven higher in recent weeks especially after a deal was reached between Britain and the EU on transitional arrangements surrounding Brexit. The perceived better outlook on Brexit has proved very beneficial for sterling exchange rates seeing...
Pound to Canadian Dollar rate hits 20 month low could further falls be in store for the Pound

Where next for GBPCAD exchange rates?

Throughout yesterday afternoon the Canadian dollar received a well needed boost off the back of reduced trade war tensions. The Wall street stock market rallied following reports that the US and China are prepared to sit down and discuss trade and potentially renegotiate certain tariffs which benefit both parties. Central banks tend to hold of raising interest rates at times of uncertainty and the Bank of Canada confirmed this a few weeks ago. However, now that it looks like there will be formal negotiations, the...
Pound to Euro forecast Sterling slides against major currencies as Brexit negotiations stall

CAD Forecast – Canadian Economic Growth to Slow in 2018 (Matthew Vassallo)

The CAD is under pressure this week losing ground against a host of the major , with these losses particularly apparent against both Sterling and the USD. Wednesday’s interest rate hike by the US FED and what seems like a significant breakthrough in Brexit talks, has certainty had a detrimental effect on the CAD. Investors have been moving their funds away from the Loonie all week, with its value decreasing at a rather alarming rate. Despite new head of the FED Jerome Powell remaining fairly dovish...
Pound to Canadian Dollar exchange rate Brexit keeps GBP fragile against the CAD

GBPCAD hits fresh over 1.80 highs!

GBPCAD exchange rates have risen to over 1.81 as mounting concerns over the pace of future Canadian interest rate rises were dealt a fresh blow yesterday. In recent weeks concerns of Trump's rhetoric on trade had seen the Loonie dollar lose ground. Yesterday Stephez Poloz, Governor of the Bank of Canada gave a speech in which he hinted at a slower pace of future interest rate rises. The Canadian dollar has in the last year been stronger against all currencies as the BoC embarked ona ...

Canadian dollar boosted – Canada dodges Trump’s metal tariff

The Canadian Dollar has gained in value over the past few days against most major currency pairs, after some positive news for both Canada and Mexico has been announced regarding the impending US metals tariffs. US President, Donald Trump recently threatened to impose tariffs on metals imported into the US from all countries. His plans consist of a 25% tariff on steel imports and a 10% tariff on aluminium imports which would be very bad news for Canada which is why the currency lost value...