Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

CAD strengthens while GBP and USD lose value (Daniel Wright)

An interesting day for the Canadian Dollar unfolded as we got a lesson in how interconnected the currency markets are. Single events in distant countries can have as strong an affect on Canadian Dollar rates as those right on the country's doorstep in the US. Today the amount of people claiming jobless allowance in the US were shown to have increased by 30,000 last month, and the amount of new jobs added the economy came in lower than expected. Poor data in the US, due...
GBPEUR Higher as Merkel Faces Lockdown Backlash

As expected GBP/CAD rates remained at 1.96

Yesterday was largely uneventful for the Canadian Dollar. Few data releases on either side of the Atlantic saw the situation in Greece dominating the relationship between most currency pairs. While the Greek delegation suddenly showed themselves to be more conciliatory in their run-up to their referendum on July 5th, offering new terms, and rumours that they were more open to accepting further cuts flourished. However, with nothing concrete announced, rates refused to move below or above 1.96 for GBP/CAD as no more capital flowed in...
Pound to Canadian Dollar Rate Remains Towards the Top of Its Range Despite Fears of Brexit Negotiation Delay

GBP/CAD rates hold steady in the low 1.96’s

It seems markets are still digesting the mammoth swings which occurred yesterday for the Canadian Dollar. It seems Canada started the second quarter much like it started the first quarter of 2015, in recession. The first quarter saw an annualized rate of recession at -0.6%, and now we have begun the second seeing an initial contraction of -0.1%. Recession is defined by two successive quarters in a row of economic contraction, and Canada is now only a few months away from being in this category. Policymakers...
GBPEUR Rejected by 1.17 Price Level Again

CAD weakens further against all major currencies (Daniel Wright)

GBP/CAD rates got as high as 1.965 today as everything worked in the Canadian Dollar buyers' favour to stretch rates just that little bit further, and fresh 7 year highs have been reached! Canada's economy contracted in May by -0.1%, only a small amount away from the expected 0.1% growth, but an economy flirting with recession understandably does not attract much confidence. It seems that the poor trade figures released earlier in the month were right to indicate a slow-down in the economy. Whilst Canada...
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

Extremely volatile day for CAD against all major currencies

GBP/CAD, EUR/CAD, USD/CAD and more will be subject to numerous market forces today. There will be data releases in the Canadian economy, political upheaval in Europe, and a flood of economic forecasts released for the UK, Europe and the US. At 13:30 GMT the release of GDP for the Canadian economy during the month of May will be the most important point to watch out for the day. Canada has tried extremely hard to diversify its economy in the face of record and sustained poor...
Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

GBP/CAD rates catapulted back up to 1.95! (Joshua Privett)

A multitude of factors have come together today to allow the Pound to gain a further 2.5 cents against the Canadian Dollar in a single day of trading. To put this in perspective, between the high and the low of today a $200,000 purchase was £1,300 cheaper to achieve on a well timed transfer! Firstly, investors fearful of a volatile Greek crisis has moved into safer currencies such as Sterling, which has artificially boosted its value due to increased demand. This began immediately this morning. Secondly, disappointing...
GBPEUR Sinks Again with Virus Case Surge

GBP/CAD rates rise briefly as the Pound gets an artificial boost (Daniel Wright)

After almost hitting 1.92, Sterling has benefited from a mass-influx of currency from the European mainland. The sudden deterioration in talks with Greece has forced many investors to flee to safe haven currencies such as the Pound. In doing so, they have driving up the value of Sterling on the currency markets, which is why in the first few hours of trading this morning rates have glided back up to 1.94. This should be viewed as another golden opportunity for Canadian Dollar buyers. We are...
Pound to Canadian Dollar Rate Remains Towards the Top of Its Range Despite Fears of Brexit Negotiation Delay

GBP/CAD Rates climbing once more – 1.94 Reached briefly this morning

This kind of volatility is frankly surprising. Most analysts were expecting the rates to settle down after the shock announcements dealt with on this website during Friday's trading session. The rates are moving up because of some poor news expected this afternoon about the long-term projections of the American economy, and their trade relationship with Canada. But to move the rates up by almost two cents in a single morning of trading is disproportionate to how important this data release is frankly. Markets on...

*Breaking News* – GBP/CAD Rates Soar – Close to 1.95 and climbing! (Joshua Privett)

Shock news as severely poor Retail Sales figures for the Canadian economy came in this afternoon. The consensus among analysts was to expect a 0.7% increase for sales in the retail sector, instead a contraction of 0.1% was recorded. GBP/CAD rates are now at a 7 year high, surpassing the previous 6 year highs recorded last month. Inflation data came in much more positively than expected. For the next year it had previously been forecasted at 2.1% but has now been revised higher to 2.2%. While this...
Pound to Canadian Dollar outlook Will Sterling struggle against the Canadian Dollar?

Flood of data today should affect CAD only indirectly

Ahead of Friday, where we'll get a transparent look into the Canadian economy through the release of their retail sales figures and their inflation data, today will see a flood of data from the EU, the UK and the US, which will see EUR-CAD, GBP-CAD, and USD-CAD experiencing severe volatility. Monetary policy statements will be announced for the UK and US economies. Markets will be looking for some indication about when interest rates will be raised in both economies. Both have had worries about current...