Pound Stronger vs Canadian Dollar this Morning

Bank of England interest rate decision gives Sterling a boost vs the Canadian Dollar...

Sterling vs the Canadian Dollar has seen a big upwards surge following the news from yesterday afternoon that one of the 9 members of the Monetary Policy Committee has voted for an interest rate hike. This is the first time since summer last year when the Bank of England have had any disagreement and this is why Sterling received a welcome boost vs the Canadian Dollar. UK inflation has been rising recently and this was one of the reasons Kristin Forbes voted in favour of an...
Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

Will an oil sell-off wipe out the Canadian Dollars recent gains? (Joseph Wright)

We've written extensively about the relationship between oil and the Canadian Dollar on this blog before, and this month that relationship has really been a talking point as the price of oil dominates financial headlines and CAD has experienced a volatile month. Crude oil prices have risen 15% in August, mostly off the back of speculation that OPEC members will reduce output but also a weakening US Dollar has boosted oil's demand as the commodity is priced internationally in US Dollars. The Canadian Dollar has spent...
Gbp to Cad Exchange Rate Hits a 1-Month High as Risk Appetite Returns to Global Markets

Canadian Dollar recovers, Oil soars!

The price of Oil has recovered and the Canadian dollar with it following a worrying few sessions over the Alberta Oil Sands fires last week. Thankfully the fires are now out but the impact on the economy will remain in the shorter term. Investors however are taking a longer term view on the whole situation and will be looking at this from a point of view that the worst fears have not been realised and that the Canadian economy will recover. I think that...
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...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

GBP/CAD – Sterling Falls in Value (Daniel Johnson)

Brexit Fears cause the Pound to drop Theresa May stated over the weekend there was the probability of a hard brexit and the Pound has fell against the Canadian Dollar as a result. I am not so convinced. The key market mover on the horizon is the Supreme Court Judgement on whether parliament will get to vote on the triggering of Article 50.  If parliament do get the vote there is the probability of a soft brexit which should see the pound strengthen. A hard brexit...
Will Pound to Euro Rates Gain in September?

Volatile day on GBPCAD exchange rates!

Yesterday saw some big swings on the GBPCAD exchange rate reminding us how important it is to be prepared on the currency markets of any unexpected twists and turns. Just as the pound was having a very bad day and GBPCAD to 1.6780 the Bank of England Governor Mark Carney dropped some hints that he might wish to raise interest rates sooner in the UK than had previously been believed causing the rate to rocket to, by 3 hours later we were up at...
Will Pound to Euro Rates Gain in September?

Is an Interest Rate Cut on the Horizon in Canada? (Daniel Johnson)

There is speculation the Bank of Canada (BoC) are considering cutting interest rates at the next meeting due on 7th December. BoC governor Stephen Poloz is due to speak during the early hours and any hint of a change in monetary policy will no doubt send traders into a frenzy. With a rise in oil prices, Canada will want to be at the forefront of supply and a rate cut would certainly assist in making Canada's oil reserves more attractive. OPEC are currently in meetings in...
Brexit and Coronavirus Weigh on GBP as Oil Price Collapse Causes CAD Value to Fall

GBP/CAD Forecast – CAD Finds Support Following Sterling Spike (Matthew Vassallo)

GBP/CAD rates have fallen during Tuesday’s trading, as the CAD found some support around 1.70. The CAD hit a high of 1.6873, giving it some much needed respite following the recent loses against Sterling. Sterling’s performance against the CAD has not been mirrored against most of the other major currencies and therefore the recent spike is somewhat surprising. Considering how much pressure the UK economy has been under of late, this improvement has been taken advantage of by many of our clients with a short-term GBP/CAD currency...
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...
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...