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Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

Trump could cause volatility on GBP/CAD (Daniel Johnson)

Trump causing trouble promising to increase oil production Trump's speech following the inauguration was very focused on taking firm control of the domestic economy. Part of the plan for Trump's "Let's make America great again!" If his plans come to fruition the Canadian Dollar could lose value. I think Sterling is still chronically undervalued against the Canadian Dollar. The main factor for the pound's fall is the uncertainty surrounding trade negotiations post Brexit vote. Sterling has rallied following Theresa May taking away some of that uncertainty...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

BoE Interest Rate Decision Could Halt Sterling’s Rise (Matthew Vassallo)

GBP/CAD rates have spiked this week, providing those clients holding the Pound with some much needed respite. Sterling has gained almost 6 cents at the high, from its lowly positon below 1.70 at the start of the trading week. Sterling has benefited from some political stability, with Theresa May today being confirmed as the UK’s new Prime Minister. This has helped to alleviate some of the pressure on Sterling, which had been building since the Breixt result and David Cameron subsequently resigning his post...
Pound to Euro Exchange Rate Outlook: Busy Week Ahead for GBP to EUR Rates

GBP/CAD Forecast – CAD Befitting From Sterling’s Downturn (Matthew Vassallo)

The CAD has found support against Sterling, after a difficult week for the UK economy. Poor Manufacturing & Construction PMI data early this week set the trend, with the negative fallout from UK Prime Minster Theresa May’s speech putting further pressure on the Pound. The CAD itself has been a mixed performer of late, dropping by almost ten cents from 1.60 to 1.70 against GBP in recent months. This was due for the most part, due to a drop in crude oil prices (Canada’s main export) and...
Pound to Euro Exchange Rate Outlook: Busy Week Ahead for GBP to EUR Rates

Sterling fails to hold on to its recent gains, where to next for the...

After rising earlier in today's trading session the Pound has seen a sell-off this afternoon, and with quite a busy week planned this week in terms of economic data releases, I think the Pound could be in for further falls later this week. The reason for the Pound's gains last week can be put down to the Brexit plan now being clearer after the UK PM, Theresa May outlined her Brexit plans during a speech last Tuesday. Furthermore, the GDP figure for the final quarter of...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

Pound to Canadian Dollar rate getting closer to post-Brexit vote lows (Joseph Wright)

When compared with the Canadian Dollar, the Pound isn't in as bad a position as it is when compared with the Euros for example. Since the Brexit vote last June the lowest the GBP/CAD rate has dropped is around 1.5850, and at the moment the Pound to Canadian Dollar rate is trading around 5-6 cents higher than level. The Pound has been fortunate not to fall back to those lower levels as this week the Pound to Euro rate has hit a new post-Brexit vote low,...
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

Extremely volatile day for CAD against all major currencies

GBP/CAD, EUR/CAD, USD/CAD and more will be subject to numerous market forces today. There will be data releases in the Canadian economy, political upheaval in Europe, and a flood of economic forecasts released for the UK, Europe and the US. At 13:30 GMT the release of GDP for the Canadian economy during the month of May will be the most important point to watch out for the day. Canada has tried extremely hard to diversify its economy in the face of record and sustained poor...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

Bank of Canada raise interest rates as expected to 1.25% – Slight CAD strength...

Today saw the Bank of Canada raise interest rates by 0.25% which saw slight gains for the Canadian Dollars against most majors. The BOC however did mention in a statement that there are concerns surrounding the NAFTA agreement (North American Free Trade Agreement) was still a concern and this held back any major gains for the Canadian Dollar. Generally, an interest rate hike is seen as very positive for a currency and a cut in rates is seen as negative, however with the hike in rates...
Pound Stronger vs Canadian Dollar this Morning

CAD Boosted By Oil Gains And USD/GBP Weakness (Joseph Wright)

The Canadian Dollar spiked upwards yesterday for a number of reasons, gaining just under 2% against the US Dollar and over half a per cent against the British Pound. As many readers will already be aware, the Canadian Dollar is heavily pegged against the value of oil as Canada is one of the world’s largest exporters of oil, therefore big swings in its value can have a profound effect on the value of the Loonie (Canadian Dollar). Yesterday the value of oil was boosted after...

Strong retail data sees GBP/CAD rates tumble!

CAD strengthened yesterday following the surprising growth in their retail sales sector. In a single month the sector grew by 1%, half of which was a growth in car sales due to cheap fuel. Due to the further worsening of oil prices, many who were waiting to buy a car could move on this, because they were more confident with handling the long-term costs involved. Specifically concerning GBP/CAD rates, this was a fantastic day for CAD sellers. While the Canadian retail sector expanded, the opposite...
Pound Stronger vs Canadian Dollar this Morning

Bank of Canada interest rate decision this week (Tom Holian)

Sterling vs the Canadian Dollar has continued to trade above 1.90 on the Interbank level as Sterling during the last few trading sessions. The Pound saw gains following some better than expected Retail Sales data showing an improvement to 4.3% from the expected 2.5%. It suggests that the UK economy is actually evidencing some gains and with last week's surprise opinion poll on the Brexit vote showing the Leave campaign in the lead this has helped to boost Sterling exchange rates. However, Sterling has not been able...