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Pound to Euro rate near 26-week high on low ‘No Deal’ Brexit risk

US Federal Reserve keep interest rates on hold and the impact on the Canadian...

The Pound vs the Canadian Dollar has stayed relatively stable overnight as the US Federal Reserve decided to keep interest rates on hold at 0.75%. There was a chance that the US would increase interest rates but owing to the US general election due in less than 2 months time it could be argued that the Fed are being cautious at the moment about changing monetary policy. The movement of the Canadian Dollar is often affected by what happens in the US and owing to the...
Pound to Euro outlook Election uncertainty and Brexit hold Sterling to a tight trading range

Pound prediction against the Canadian Dollar (Tom Holian)

Sterling has begun its slow and steady fightback against the Canadian Dollar following the Brexit just over 3 weeks ago. Sterling has fallen against all the major currencies during this time and since new Prime Minister Theresa May has come in this has helped the Pound to gain against the Canadian Dollar. UK unemployment figures came in this morning much better than expected at just 4.9% compared to the expectation of 5%. This is now the best level in almost 15 years. However, the figures are...
Pound to Canadian Dollar rate hits 20 month low could further falls be in store for the Pound

Will GBP/CAD Hit 1.90 Ahead of EU Referendum? (Matthew Vassallo)

GBP/CAD rates hit 1.8743 at today’s high, before slipping under 1.87 by close of European trading. The pair have remained fairly static this week, despite gains for Sterling against most of the other major currencies. It seems as though the markets are undecided which way to go, ahead of next month’s EU referendum and with mixed data coming from both economies, we may find the pair range bound between 1.85-1.90 over the coming weeks. Those clients holding Sterling will be concerned about the damage a...
Pound to Canadian Dollar Exchange Rate: Gains for Sterling After Bank of Canada Uncertainty

GBP/CAD focus pairing

Yesterday GBP/CAD took a brief nosedive by about a Cent as the Canadian Dollar strengthened against most of its currency pairings. The revised forecasts for global growth following crises in China during August, which lowered oil prices even further, were not enough to offset the string of positive economic data releases for the Canadian economy in that same period. This was why the Bank of Canada decided to keep interest rates on hold, rather than making further cuts. The Canadian housing market is already benefiting...

CAD weakness because of oil prices

The Canadian dollar has lost value against all of the major currencies this week due to the decline in oil prices. Oil has taken a hit following Hurricane Harvey as it is being reported that 20% of oil refineries have been shut down due to the flooding. Regular readers will be aware that oil prices and Canadian dollar exchange rates have a direct correlation. When oil prices fall the Canadian dollar's value falls and vice versa. In regards to GBPCAD exchange rates before the flooding it...
GBP/CAD Exchange Rate Dipped as the Market Prepared for Election, Tory Win Means GBP Has Cashed Back In

Will CAD continue to weaken?

Today the Canadian Dollar will be put under further scrutiny, as data released concerning its import and export sector will shed light on its current economic state. The CAD has come under further pressure in recent days due to the announcement of a global increase in oil production, which further lowered current and future prices for oil. With CAD being a commodity currency, it's value is closely linked to commodity currencies. However, today may see some Canadian Dollar strength when the data is released at 12:30...
Pound to Euro outlook Election uncertainty and Brexit hold Sterling to a tight trading range

Is Sterling set for a further fall against CAD? (Daniel Charles Johnson)

Brexit has caused a dramatic fall for Sterling against the majority of major currencies. The International Monetary Fund (IMF) warned yesterday that if trade negotiations between the UK and the EU do not go smoothly there is the possibility of Britain falling in to a recession. I am not pessimistic. I think now we have a new cabinet in place and Theresa May at the helm I think we will see a gradual recovery for the pound. She is due to meet Angela Merkel...
The Canadian Dollar Celebrates USMCA Deal but Investors Are Cautious Following Poor Jobs

Pound to Canadian Dollar rate hits a 3-month low after BoE member fails to...

Investors and clients hoping to change Pound into Canadian Dollars at higher rates have been left disappointed today. In this flat market many within the financial services has been awaiting the comments from Bank of England governor Ben Broadbent this lunchtime, as many had hoped that he would make a reference to his his option on whether there should be an interest rate hike in the UK in the short term future. We've been receiving mixed messages from the BoE recently and after an almost 50:50...
GBP to EUR Forecast: Will the 2020 Pound Sterling Highs to Buy Euros Remain?

Possible “Brexit” causes volatility on GBP/CAD (Daniel Johnson)

As the EU referendum draws closer we are seeing increased volatility on GBP/CAD. We have seen GBP/CAD range from 1.84 to 1.92. Current levels are looking very favorable for CAD sellers, the best levels in the last month. This is predominantly due to the Leave camp gaining momentum in the referendum. Personally I do not think these levels will remain. With Nicola Sturgeon going up against Boris on Thursday night I think we may see a swing in favor of the remain camp and subsequent polls...
GBPEUR rate remains steady as markets await the Autumn Budget

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...