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...
GBPCAD Rates: Lack of Faith in the Pound Highlighted by Oil Crisis?

GBP to CAD rate woes continue: Could this month see the pair reach a...

Pound to Canadian Dollar exchange rates near September 2017 lows The last time the pound to Canadian dollar rate fell below 1.60 was in September 2017 which is almost two years ago, and with the pound losing value against the loonie on almost a daily basis at the moment I don't think that it's outside the realm of possibility for sterling to perhaps test those levels again soon. With the loonie going from strength to strength and sterling putting up little fight, those planning on exchanging...
GBPEUR Forecast – Internal Market Bill Drives GBP Lower

Pound to Canadian Dollar exchange rates: Will the pound fall further once the Tory...

What will happen to GBP/CAD exchange rates after the Tory leadership contest? Over the last 8 weeks the pound has gradually been losing value against the Canadian dollar. 8 weeks ago GBP/CAD mid-market exchange rates were above 1.77 and now mid-market levels are trading just above the 1.6350. To put this into monetary value a CAD$300,000 purchase now costs clients an additional £14,000. The question many of my clients are asking is whether the pound will fall further once the Tory leadership contest is over...
Pound to Canadian Dollar Outlook: Canadian Dollar Drops to Four-Year Low as Economic Fears Spike

Pound to Canadian Dollar exchange rate: Outlook for UK economy remains unclear as Boris...

Boris vows to bring the UK out of the EU by October 31st deadline Boris Johnson, the new Prime Minister of the UK has 97-days to take the UK out of the EU as outlined during his leadership campaign although at the present moment the way he will achieve this remains unclear. Despite all the political uncertainty that surrounds the UK economy moving forward, the UK economy has remained resilient for example, UK unemployment is running at its lowest level in 44-years and inflation levels within...
Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

Hurricane Irma causes the Canadian Dollar to weaken against the Pound (Tom Holian)

The Pound has made some significant gains vs the Canadian Dollar towards the end of this week. Earlier in the week the Pound fell against the Canadian Dollar after the Canadian central bank announced a surprise interest rate hike which saw the GBPCAD exchange rate hit its lowest level since January. The Canadian Dollar has weakened during the end of the week as the markets hold their breath to see how Hurricane Irma may affect the US. Owing to its geographical proximity to the US anything that...
Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

GBPCAD rates break 1.70 – where next?

I wrote earlier this week about GBPCAD breaking 1.70 and so it has passed. The pound remains under pressure and the Canadian economy will continue to be supported by their main trading partner the US. The Loonie and the Canadian economy have had a rough period with the economy there flagging under the pressure of the Alberta Oil Sands fires plus the knock on impact of this event on their economy. Expectations for the future are that the price of Oil could weaken further...
Pound to Euro Outlook: GBPEUR Rates Reach 4-Week Interbank Highs

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...
CAD Weakens Due to Worst Mass Murder in 30 Years Announced on Sunday

Canadian Dollar Hopes to Rebuild After Losing Prior Weeks Gains, Whilst GBP Pushes for...

The Canadian dollar weakened against its US counterpart on Friday, in doing so it gave up much of its gains from the week. A shock decline in retail sales were the main burden to the economy, with this news bets for a Bank of Canada (BoC) interest rate cut in 2020 were back on the table. Meanwhile, the UK has tightened up on its stance for Brexit, with the UK PM setting a hard deadline for December 2020. But not everyone is worried about...

CAD Forecast – Canadian GDP Figures Boost the CAD’S Value Further (Matthew Vassallo)

The CAD has found a new lease of life over recent weeks, with another positive move during Tuesday’s trading. CAD/GBP rates have spiked by around a cent and a half, following the release of today’s attest Gross Domestic Product (GDP) figure. Canada’s economy has grown by 0.4%, with the official figure coming in above the markets predicted result of 0.3%. This healthy reading is the culmination of a run of strong economic data, which has helped to boost investor confidence in the Canadian economy over recent weeks. This...
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...