Pound to Euro Still Unable to See Post-Brexit Gains

GBPCAD rates rise but for how long?

The sterling to Canadian dollar exchange rate has remains reasonably subdued as a stronger pound fights a weaker Canadian dollar. With the latest Opec news stabilising the price of Oil the Canadian dollar remains firm. Recent news on the Brexit Bill which has been well received by the market will continue to stimulate interest in the Canadian dollar but I am of the opinion that over the course of the next few months the rates will be very volatile once again. Firstly I would suspect...
Pound to Euro Still Unable to See Post-Brexit Gains

CAD loses ground against all major currencies yesterday with falling oil prices

The losses were slight but widespread. Most were expecting a rise in crude oil prices yesterday as crude oil stocks had dropped for an 8th week in a row, suggesting a removal of the oil glut and an increase in demand. However, this was matched by record output in the U.S of 9.6m barrels per day. So while the U.S. market was increasing it seems they will likely be buying their own stock rather than adding to demand for the overseas markets, which is...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

OPEC to influence Canadaian dollar exchange rates for the foreseeable future

Thursday in Vienna, the Organisation of Petroleum Exporting Countries also known as OPEC are set to discuss the oil cut production which expires in March. Last December the leading nations that make up OPEC agreed to cut oil production in a bid to raise the price of oil. Oil prices plummeted from $120 per barrel to $50 per barrel from December 2014 to December 2016. Reports are being released that the Russians could scupper a potential extension as energy Minister Alexander Novak was happy with the...
Pound to Euro Reaches 2-Month High

GBP/CAD – Potential Market Movers (Daniel Johnson)

Could Boris Johnson provide some clarity on Brexit? Tomorrow we will see Boris Johnson discuss Brexit. This does have the potential to move markets if he provides any clarity on Brexit. I would however be sceptical about him causing a significant rise in Sterling value. The real issues that need to be addressed seem to be being avoided. In order for large games for the pound we need clarification on immigration and trade. Theresa May has already indicated the two year target for exit from...
Pound to Euro Reaches 2-Month High

Theresa May calls for an election and Sterling soars in value. (Daniel Johnson)

Snap election benefits the Pound Theresa May announced on Tuesday she would be calling a general election 8th June. Historically, a snap general election would cause the currency in question to weaken, but on this occasion the opposite has occurred. The Conservatives are currently significantly in front in the polls and are solid favourites to win the election. It was a shrewd move by the PM, almost guaranteeing another term in office by timing the election when the competition is so weak. A conservative government is...

Will GBPCAD raise or fall this week?

This week is a very important one for GBPCAD exchange rates as we get some fresh news on the UK economy and also the Canadian economy. With the GBPCAD rate having moved some 5 cents in the last month the big movements will be having a big influence on clients looking to buy or sell Canadian dollars. If you have a transfer to make then getting everything setup well in advance is very sensible to make the most of the current opportunities. Particularly for...
Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

Pound falls against the Canadian Dollar owing to election uncertainty (Tom Holian)

Pound exchange rates vs the Canadian Dollar fell on Friday after an opinion poll released showed that the lead of the Tories vs Labour is falling. Having previously been at a much bigger margin the gap is now just at 5%. This has caused a big surprise to global investors and this has led to a huge sell off for the Pound against all major currencies including vs the Canadian Dollar. Indeed, up until this week the Pound has been making huge gains against the Canadian...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

What can we expect for GBPCAD rates in 2017?

The pound is likely to struggle in 2017 but what about the Canadian dollar? The GBPCAD rate has been volatile in 2016 and I expect this to continue in 2017. Two of the main issues on this currency pairing will remain in 2017, that is the Brexit and the price of Oil. These two issues will continue to dominate and influence the GBPCAD exchange rate. Understanding just what happens on these events will help determine what kind of exchange rates we see moving forward....
Pound to Euro Reaches 2-Month High

Why did the Canadian Dollar fall when interest rates were hiked? (Joseph Wright)

Yesterday the Bank of Canada chose to raise interest rates for the third time in the last year. The interest rate now sits at 1.25% and those that decide on making the decision to change interest rates have stated that this decision can be put down to increasing inflation levels, and an a strong Canadian economy. Many economists and market traders had predicted the move and the Loonie had been increasing in the lead up to the decision, and once it was made official many took...
Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

GBP/CAD and EUR/CAD rates still very tempting…

A busy week ahead for data releases in the Canadian economy, as well as other major countries which will affect Canadian Dollar exchange rates against Sterling, the Euro and the US Dollar. Today Canadian Manufacturing Shipment Data will be released for the Canadian Economy. This is normally seen as a measure of demand for Canadian Goods. This data is normally a positive reflection for the Canadian economy. However, because oil prices have slumped, and price competition from the Middle East has seen Canada lose some...