Pound Sterling Forecast: What's impacting GBP Rates This Week?

CAD rates stable on Election Day

CAD rates are still surprisingly stable on the day of the Federal Election. We are seeing some very slight Canadian Dollar weakness at the moment but nothing compared to what other currencies have experienced this year. As an example, GBP/CAD in the run up to the UK election weakened by 3% as uncertainty about the British government moving forward reduced confidence in the Pound. This time around, the CAD has only weakened by about 0.8% so far. Polling numbers over the weekend suggest an even...
Pound to Euro Outlook: GBPEUR Rates Reach 4-Week Interbank Highs

GBPCAD rates rise on sterling strength but for how long?

GBPCAD has risen as investors immediate and fresh fears over the Brexit from last week fade out. Most clients buying Canadian dollars had been preparing themselves for a lower deal but with these improvements we can now see a higher rate on offer. If you are buying Canadian dollars it is important to understand the market and all of your options well in advance. By making plans in advance you can help to mitigate any uncertainty and ensure you do not lose out if...
How Is COVID-19 Effecting GBP to CAD Exchange Rate?

Bank of Canada members to set the scene for the Canadian Dollar as the...

Following on from a fairly flat day for Canadian Dollar exchange rates we have a few points of note for you to keep an eye out for if you have Canadian Dollars to exchange in the near future. Two members of the Bank of Canada are speaking today, Governor Poloz is speaking shortly and later on in the trading day we also have BOC Deputy Lane speaking later in the afternoon. Poloz is not expected to raise any large movements, as he speaks at the unveiling of...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

Will GBPCAD reach 1.70?

The pound has risen to fantastic fresh highs against the Canadian dollar which is an excellent opportunity for any clients looking to buy Canadian dollars with pounds. If you are looking to make any kind of currency transfer in the future buying Canadian dollars these levels may not last for too long and making the most of them could be very worthwhile. Expectations on the rates for the future are mixed but overall I would expect the pound to lose further ground against most...
Canadian Dollar Saved by Inflation Target Being Met but Outlook Looks Worrying

Pound to Canadian Dollar outlook: New British PM on Wednesday, how could this affect...

Pound to Euro exchange rate outlook: New UK Prime Minister and Cabinet, how will the markets react? The pound to Canadian dollar exchange rate has bounced higher after much stronger than expected retail sales data yesterday providing a boost for the GBP vs CAD pair. Despite the small improvement, the pound continues to test the lower levels with the ongoing uncertain political situation in the UK. The new Prime Minister will be announced on Tuesday and is highly likely to be Boris Johnson. A new...
Pound to Euro Exchange Rate Outlook: Busy Week Ahead for GBP to EUR Rates

Will the Pound fall further against the Canadian Dollar? (Tom Holian)

The Pound vs the Canadian Dollar has experienced some positive gains today after Bank of England member Andy Haldane suggested that he was considering voting for an interest rate hike this month which would have taken the vote to 4-4. He also suggested that the Brexit risk is not gone but that UK growth remains solid. Last week when the minutes were published the split was 5-3 in favour of keeping interest rates on hold which came as a big surprise to the market as...
Pound Sterling Forecast: What's impacting GBP Rates This Week?

Bank of Canada raise Interest Rate (Daniel Johnson)

Rate Hike by 0.25% The Bank of Canada yesterday raised rates  from 0.5% to 0.75%. This has been the first rise in rates in seven years.  The justification  for the hike was strong growth across all industries and there is confidence that these levels can be sustained. Sterling has weakened against the Canadian Dollar as a result now sitting at 1.64. Stephen Poloz the Governor of the Bank of Canada has stated however that there is no intention for further hikes for the foreseeable future, the...
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

Sterling predicted to fall further in 2018, should you exchange your Pounds now? (Joseph...

This morning could be important for Sterling exchange rates as UK trade balance figures for the Pound are due to be released. UK Trade balance figures are important because they will demonstrate the gap between what Britain buys from the rest of the world versus what it sells back. This update comes at a time that major Swiss lender, UBS have highlighted the growing imbalance in the UK's trade book which is the highest of all G7 countries. Due to the uncertainty surrounding the UK economy...
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

Brexit Negotiations Could Halt Sterling’s Rise (Matthew Vassallo)

Sterling has made gains against the CAD over the past few weeks, with the pair now trading above 1.77. The Pound has enjoyed a positive run off the back of a run of solid economic data and global concerns around falling oil process. The price of crude oil has fallen to a five-month low, which is likely to have a negative effect on Canada’s export driven economy. With Oil being their main export any downturn has an instant negative effect on their economy and the CAD...
Pound to Canadian Dollar Remains Steady in 1.7479 and 1.7595 Range

Canadian dollar exchange rates choppy on Trade Wars and Oil!

The Canadian dollar has been struggling under a series of pressures following the latest news that has seen big fluctuations in the value of the price of Oil and therefore the Canadian dollar. Expectations are high for some important developments at the upcoming OPEC (Organisation Petroleum Exporting Countries) this Friday which has seen big changes in the price of Oil and assets, commodities and currencies connected to it. The Canadian dollar is also susceptible to comments from Donald Trump regarding the Trade Wars which will...