Brexit and Coronavirus Weigh on GBP as Oil Price Collapse Causes CAD Value to Fall

Will GBPCAD break 1.80 this week?

The pound to Canadian dollar exchange rate has seen a big twist and turn lately as the market struggles to price into expectations the changes in sentiment towards both the Canadian dollar and the pound. The Canadian dollar has risen as investors feel a stronger and higher price of oil will boost the Canadian economy in the longer-term. The pound has also struggled as investors step back from the high expectations that have been placed into the market relating to interest rates. The general belief...
Canadian Dollar Saved by Inflation Target Being Met but Outlook Looks Worrying

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...
Gbp to Cad Exchange Rate Hits a 1-Month High as Risk Appetite Returns to Global Markets

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...
Canadian Dollar Saved by Inflation Target Being Met but Outlook Looks Worrying

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 Euro Outlook: GBPEUR Rates Reach 4-Week Interbank Highs

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

GBP CAD Rallies on Brighter Brexit Outlook

The Canadian dollar faces an uphill battle at the moment with the ongoing dialogue from US President Donald Trump. Trade policy changes from the Trump administration are having a negative impact on the Canadian dollar as new tariffs and protectionist policies have started to be introduced. It all started with softwood lumber last year when the US President slapped on tariffs onto Canadian exports. More recently and the US has introduced tariffs on imported steel and aluminium which also has a knock on effect on...
Gbp to Cad Exchange Rate Hits a 1-Month High as Risk Appetite Returns to Global Markets

Will fears surrounding the Canadian Dollar cause it to drop further? (Joseph Wright)

Those of our readers following the Canadian Dollars value will be aware of the potential downsides to the currency's value should there be amendments to the NAFTA agreement. Seventy percent of the countries trade is with the US so if US President, Donald Trump does force through amendments to the current North American Free Trade Agreement (NAFTA) like he's warned, I think there's a chance we could see the Canadian Dollar drop in value. There has been some relief for the Loonie over the past week...
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...
Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

Canadian GDP (Growth) figures key for how we see CAD end the week

It has not been a great week for the Canadian Dollar against most majors, seeing a slight dip in value over the course of the week. The Canadian Dollar was actually the worst performing of all the major currencies on Tuesday and it does appear that investors have slight concerns on how growth figures (released tomorrow) are due to come out. Expectations are for month on month figures for December to post a figure of a mere 0.1% growth from 0.4% last time around, which would more...
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

GBPCAD at post-Referendum highs!

The pound is looking much stronger against the Canadian dollar as we get closer to understanding what Brexit will mean, markets are being kinder to the pound in the expectation of a softer Brexit which will see less disruption to the UK economy and therefore is less of a concern for sterling holders. GBPCAD rates are also higher on the uncertainty over the pace of future Canadian interest rate hikes, in short the good news for Canadian dollar buyers looks likely to continue. Of course...