Brexit Progress Heavily influencing GBP to CAD rates

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...
Pound to Canadian dollar forecast - stead ahead of mid-term elections

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...
Pound to Euro Forecast – Brexit Secretary Dominic Raab Resigns

Minimal data out today for the U.K – European growth and U.S employment figures...

We have minimal economic data out for the U.K today, the Pound has remained fairly flat in early morning trading. As the day progresses we do have other economic data releases from around the world that may impact the Pound against the Dollar, Euro and Canadian Dollar along with other major currencies. At 10:00am today we have the release of European growth figures, expectations are for the quarter on quarter figures for the first quarter of 2018 to remain at 0.4% with year on year growth...
Pound to Euro Rates after British Legal Position Explained

Italian political issues appear to be the main driver for currencies so far this...

The week so far has seen quite a lot of volatility for Sterling exchange rates, however the reasons for the Pound moving against most major currencies are not down to political or economic data from the U.K but actually mainly driven by Italian politics, Donald Trump and North Korea. Italian politics has been one of the main focuses for the week for investors and speculators, as news broke earlier in the week that the two big winners from the election - Five Star and The...

What may the Bank of England interest rate decision lead to for Sterling exchange...

Following a reasonably quiet start to the week for U.K economic data anyone with a requirement to exchange Sterling into another currency or to exchange another currency back into Sterling may wish to keep a keen eye on exchange rates over the course of the trading day tomorrow. At midday we have the release of the Bank of England interest rate decision and this will be key for the performance of the pound for the rest of the week. The Pound had initially hit the highest...

Will the Bank of England raise interest rates? This will be key for Sterling...

The key to the performance of the Pound in the next few weeks will be the likelihood of an interest rate hike, which has dipped a little over the past week. Bank of England Governor Mark Carney commented last Wednesday evening that economic data in the next few weeks will be key to whether or not the Bank of England will make their move and raise interest rates on May 10th. Before these comments along with the low inflation figures that we received earlier that day,...

Sterling awaits unemployment and average earnings figures today in a change to the usual...

This morning we have the release of unemployment and average earnings figures for the U.K in a slight change to the usual schedule, as these figures have been released on Wednesday historically for many years. They have been altered by the ONS (Office of National Statistics) have made the move as they would prefer unemployment figures to be released the day before Prime Ministers questions to give Parliamentarians the chance to review the figures before they are debated. This should in turn mean that the release...

Sterling spikes against most majors – A good week for the Pound but will...

Sterling spiked against all major currencies in trading yesterday afternoon, hitting the highest point since June 2017 against the Euro and offering those looking to buy foreign currency in the near future a fantastic opportunity. The Pound has been on a slow rise this year and yesterday’s further boost shows once again that confidence in the U.K economy and indeed the Pound, is rising, but we do still need to be cautious that it would only take one bad piece of economic or Brexit news...

Pound forecast for the week ahead – Economic data due out this week

There are a number of data releases of note this week so I thought I would outline the highlights below. Overnight tonight we will have the release of BRC like for like Retail sales data which will show how the retail sector performed in March. With the poor weather we had in the U.K throughout March expectations are for a lot of the data from March to be a little weaker than usual. Tomorrow afternoon we have the NIESR (National Institute of Social and Economic Research)...

Will Sterling exchange rates have a good April? Previous trends say yes but will...

The Pound made reasonable gains against most majors throughout March and I now have many clients in the middle of overseas property purchases asking if the strength in the Pound will continue, if previous years are to go by then there is a chance that it will. For the past 13 years running we have seen GBP/USD rise, or Sterling increase in value against the Dollar, this has happened during financial and political instability and no matter what issues have been thrown at the U.K...