Pound to Canadian dollar rates ahead of Parliamentary votes on Brexit

Pound to Canadian dollar rates ahead of Parliamentary votes on Brexit

Pound to Canadian dollar rates face a volatile few days ahead as developments over Brexit continue to drive the GBP to CAD pair. Today the Speaker in the House of Commons will choose from a series of amendments that have been put forward for Parliament to vote on. There are two amendments in particular that are likely to attract attention from the markets. The Yvette Cooper / Nicholas Boles amendment which seeks to delay Article 50 could take a no deal Brexit scenario off the...
Canadian Dollar vs Pound Forecast as Canadian economy under pressure

Could fears of a global slowdown have a negative effect on the Canadian Dollar?

The global economy is in focus this week as the annual Davos world economic forum is taking place. The obvious key talking points will surround the US - China trade talks along with Brexit, which are two matters that could have a heavy impact on the GBP/CAD exchange rate. Brexit latest news Brexit related updates are coming through thick and fast as the time to arrange the process of the UK leaving the EU runs out. UK Prime Minister, Theresa May's deal was voted against by...
Canadian unemployment figures key for Canadian Dollar exchange rates

Canadian unemployment figures key for Canadian Dollar exchange rates

This week has been fairly quiet in terms of economic data, but the year should start to get in full swing today as we have the release of Canadian unemployment figures. Expectations are for the unemployment rate in Canada to have crept up a little from 5.6% to 5.7% which would be seen as a slight negative for the Canadian Dollar should the release come out as analysts have predicted. Unemployment appears to be the key focus of the day globally as we also have the...
GBP to CAD forecast: Brexit continues to be the key factor

GBP to CAD forecast: Brexit continues to be the key factor

Brexit: What Next? The lack of clarity surrounding Brexit continues to impact the GBP to CAD forecast, holding back Sterling against the Canadian Dollar. The current situation does not bode well for Sterling. Theresa May has postponed the Parliamentary vote on her deal due to rumours circulating there is a significant short fall of MPs willing to back the deal. May's intention is to renegotiate the current deal with Brussels, however President of the European Commission, Jean-Claude Junker has stated there will be no further concessions...
GBP/CAD Forecast: Busy week ahead for pound to Canadian dollar rates

Pound to Canadian Dollar Strength as Oil Price Plummets

Pound to Canadian dollar exchange rates have rallied this week after a sudden drop in the price of oil which fell by over 7% on Tuesday. With global production presently increasing this is forcing the price of oil lower which is having a negative impact on the Canadian dollar which is a commodity currency. With the US now producing vast amounts of shale this is also helping to weaken the price of oil. As Canada is a major exporter of oil a lower price...
GBP to CAD Rates Slip after Strong Week

Should I buy Canadian dollars now?

Its been a tough couple of days for the Canadian dollar vs Sterling so should you buy Canadian dollars now? Yesterday the Bank of Canada kept interest rates on hold at 1.75% and thereafter provided an extremely dovish statement which was a surprise to the markets. The Central Bank stated that a sharp fall in oil prices, which will likely to have an impact on economic growth was the main concern, and the trade war between the US and China is still a concern for...
Will GBP/CAD Rates Fall Back Below 1.70?

GBP to CAD forecast: Canadian dollar strengthens due to oil prices

In today's GBP to CAD forecast we look at what's ahead for the currency pair. The Canadian dollar strengthened against most major currencies yesterday as oil prices recovered some of the losses we saw last week. Regular readers will be aware that Canada exports many commodities and oil is arguable the most important. If we continue to see oil prices rise in the upcoming days, I expect to see CAD continue to make gains against most major currencies. Bank of Canada not expected to raise...
Canadian dollar improves against the pound as oil prices rise

Pound to Canadian Dollar rates as Brexit Political Declaration Negotiated

Pound to Canadian dollar rates have fallen below 1.70 as continued uncertainty over Brexit in these final stages puts pressure on the pound. The final text on the political declaration for the future relationship between Britain and the EU is being finalised now but is receiving strong criticism domestically in the UK. There are approximately 70 MPs who have stated they will vote against the Brexit deal in its current form which leaves a cloudy outlook for the pound to Canadian dollar rate. Is...
GBP/CAD Exchange Rates: Brexit Deal or No-Deal Likely to be the Driving Factor

Brexit progress heavily influencing GBP to CAD rates

GBP to CAD forecast GBP to CAD rates continue to be dictated largely by Brexit. Following Theresa May's preliminary deal with Brussels Sterling has taking a significant hit against the majority of major currencies. The deal has been heavily criticised by British MPs and has resulted in several high profile resignations, most notably UK Chief Brexit Negotiator Dominic Raab. Following this Jacob Rees-Mogg urged MPs to put forward a vote of no confidence in Theresa May. 48 letters of no confidence must be handed to the...
Brexit continues to dominate the Pound vs Canadian Dollar rate

Canadian dollar fairly steady ahead of US mid-terms

In today's pound to Canadian dollar forecast we look at what will happen with Canadian Dollar exchange rates this week? Canadian dollar exchange rates could be affected by US mid-term elections The Canadian dollar has remained fairly steady against the majority of major currencies in the early part of the trading week, as the markets brace themselves for the US mid-term elections. With the Canadian economy being fairly closely linked to that of its US counterpart, news from the US can have a slight link to the...