Pound to Euro Outlook: GBPEUR Rates Reach 4-Week Interbank Highs

GBP/CAD spiking up

GBP/CAD rates have almost hit 8 year highs. This is entirely due to market distortion following the continuously surprises coming out from the Chinese economy. The saga has been going on for a few weeks now, originally the poor news helped the Canadian Dollar compared to its competitors. The Canadian Dollar is not closely linked with China as a trading partner, as such the USD and the Pound were hit harder as both their abilities to raise interest rates in the near future came into question. But the worsening...
Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

GBP/CAD Rates hit 1.97! (Daniel Wright)

Rates continue to surprise as more and more capital is thrown into the Pound following Greece's popular rejection of their creditor's bailout claims. As such, the Pound has strengthened against all major currencies today. With a high of 1.975 reached as I write this, I would not be surprised to see 1.98 reached overnight in the UK while North American markets continue to trade and abandon their Euros for Pounds. It was a shame for CAD sellers to hear, as positive data was released today concerning...
Pound Stronger vs Canadian Dollar this Morning

Bank of Canada interest rate decision and the impact on GBPCAD rates

The Bank of Canada are due to be meeting later this evening to announce their latest interest rate decision. The expectation is to keep interest rates on hold so I don't think we'll see any changes in monetary policy, however, the important part of the day will be the accompanying statement which will provide us with evidence as to why they have decided this month's policy. The Canadian Dollar has been gradually improving against the Pound during the last few months but we could start to...
Pound to Euro Consolidates Above 1.12 Despite Increased Fear of No Deal Brexit

Suggestions of an interest rate hike lead to Canadian Dollar strength (Daniel Wright)

We have seen a good period of strength for the Canadian Dollar today following on from comments by the Bank of Canada Governor Stephen Poloz, suggesting that we may see an interest rate hike for Canada sooner than had first been expected. The central bank mentioned in their comments that they now believe that interest rate cuts which were made in 2015 have seemingly done their job and that the economy is now starting to pick up at a good solid pace. The chance of an...
GBPCAD Rates: Lack of Faith in the Pound Highlighted by Oil Crisis?

Important Canadian Data due out this afternoon to impact GBPCAD exchange rates (Tom Holian)

The Pound has dropped below 1.70 to buy Canadian Dollars after a poor start to the year for the Pound. Sterling exchange rates across the board have been under pressure and this has been particularly evident against the Canadian Dollar which has strengthened over the last few weeks owing to the rise in oil prices. As Canada is such a huge oil producing nation the rise in value of the price per barrel will often help to strengthen the Canadian Dollar vs Sterling. Later this afternoon Canada...
Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

Sterling vs Canadian Dollar hits best rate in 2017 (Tom Holian)

The Pound has hit its highest level against the Canadian Dollar since December as the Canadian Dollar struggles following the recent fall in value for oil prices. There appears to be a global surplus of oil at the moment and as Canada is such a big exporter any fall in demand for oil negatively affects the price of the Canadian Dollar. The Canadian Dollar has been the victim of the uncertainty between what is happening in the US and potentially with trade discussions failing then this...
Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

Pound to Canadian Dollar exchange rates still seeing tentative rises ahead of Article 50...

Pound to Canadian Dollar exchange rates have had fresh life breathed into them recently, complimenting the recovery which started from reduced oil prices in January. Rates are now 10 cents higher than they were in January, a staggering turnaround from what had been a 23 cent drop in the same period following the Referendum, and there is still a high level of optimism surrounding the UK at the moment - relatively speaking. The key focus over the next 48 hours is the triggering of Article 50...
Brexit and Coronavirus Weigh on GBP as Oil Price Collapse Causes CAD Value to Fall

Quiet end to the year for the Pound vs the Canadian Dollar? (Tom Holian)

The Pound vs the Canadian Dollar has remained in a very tight range during the course of the week as the festive season draws ever closer. With few economic data releases coming in the short term I think we could see GBPCAD exchange rates remain in a very tight range until the end of the year which means if you're comfortable with exchanging money at these levels it may be worth getting things organised. The Pound has generally speaking had quite a positive year against the...
Pound Stronger vs Canadian Dollar this Morning

CAD value weighed down by China

Overnight in the UK, markets were shocked to hear that China had made moves to actively devalue their own currency - the Yuan. In the past, China has always countered stagnation in its own economy by actively pumping capital into the domestic market though infrastructure projects and investments. This historic shift away from that policy, which is instead targeted at the global (external) market by making its exports more competitive, shows that the Chinese economy may not have the capital reserves it had previously to...
GBPEUR: Chances of No-Deal Force GBP to Surrender Gains

Are GBP/CAD Rates Heading for 1.80? (Matthew Vassallo)

Sterling’s recent gains against the CAD have softened of late, with the Pound falling by over two cents in the past week. With the pair now trading around 1.7650 a move through 1.80 is now unlikely in the short-term, with pressure building on the UK economy. Brexit negotiation concerns and a poor run of economic data has put a halt on Sterling’s rise, with no guarantee that we will see a recovery in the short-term. Whilst the Pound has no doubt found a foothold in the market,...