Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

GBPCAD rates break 1.70 – where next?

I wrote earlier this week about GBPCAD breaking 1.70 and so it has passed. The pound remains under pressure and the Canadian economy will continue to be supported by their main trading partner the US. The Loonie and the Canadian economy have had a rough period with the economy there flagging under the pressure of the Alberta Oil Sands fires plus the knock on impact of this event on their economy. Expectations for the future are that the price of Oil could weaken further...
Canadian Dollar Saved by Inflation Target Being Met but Outlook Looks Worrying

NAFTA deal still far from sewn up

US threatens non-approval on NAFTA deal if there is no firm proposal in place in three weeks. The North American Free Trade Agreement (NAFTA) is currently in the process of being renegotiated. NAFTA is a free trade deal between the Sates, Mexico and Canada. Trump has made very clear he is unhappy with the current deal and has called it "the worst trade deal in history." The results of the new negotiations could have huge ramifications fro the Canadian Dollar, the US is Canada's largest trading partner. If...
GBPEUR Rejected by 1.17 Price Level Again

Sterling slips as weak inflation data puts a question mark over a Bank of...

Those hoping the Pound would receive a boost this morning were left disappointed as this weeks key piece of economic data out of the UK failed to meet expectations. The data released this morning at 9.30am showed that the rate of Inflation has surprisingly dropped over the last month, and this has lowered the chances of an interest rate hike from the Bank of England. Many had expected to see the BoE look into raising rates in order to weather the negative effects on the UK...
How Is COVID-19 Effecting GBP to CAD Exchange Rate?

Bank of Canada members to set the scene for the Canadian Dollar as the...

Following on from a fairly flat day for Canadian Dollar exchange rates we have a few points of note for you to keep an eye out for if you have Canadian Dollars to exchange in the near future. Two members of the Bank of Canada are speaking today, Governor Poloz is speaking shortly and later on in the trading day we also have BOC Deputy Lane speaking later in the afternoon. Poloz is not expected to raise any large movements, as he speaks at the unveiling of...
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...
Pound to Canadian Dollar Rate Remains Towards the Top of Its Range Despite Fears of Brexit Negotiation Delay

Canadian Dollar drops in line with oil weakness, will GBP/CAD continue to climb? (Joseph...

The Pound to Canadian Dollar rate breached the 1.70 mark once again this morning, after previously hitting that level back on the first day on this month. Mid-market levels of 1.70 are the highest since June of last year, meaning that those converting their Pounds into Canadian Dollars are able to do so at some of the best levels in almost 18-months. The reason behind this can be put down to both Sterling strength as well as CAD weakness, as talks of the 23-year old NAFTA...
GBPEUR Heads Lower After Data, BoE Comments

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...
Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

Canadian Dollar Future Still Uncertain over NAFTA

The Canadian dollar remains under pressure following a rocky ride talks in the NAFTA talks. The Canadian dollar has a lot to lose if talks break down and the agreement comes to an end. There have been a number of contentious issues not least the sunset clause which has been called for by the US to allow for termination at the end of the agreed period. Clients looking to buy Canadian dollars with pounds are seeing rates well over 1.69 with levels trying to...
Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

What can we expect from GBPCAD in the next week?

The pound has had a volatile few weeks against the Canadian dollar with rates ranging between 1.66 and 1.70 as investors take stock of the upcoming US interest rate hike and also developments in the UK political situation. Current market predictions centre on a stronger pound as Brexit negotiations gain some momentum and the worst fears for the UK and the pound fail to materialise. GBPCAD has hit some fresh highs touching almost 1.70 of late which is some of the best rates we have...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

Where GBP/CAD Exchange Rates? (Matthew Vassallo)

GBP/CAD rates have spiked over the past week, with Sterling benefitting from improved run of UK economic data. The Pound gained some traction last week following strong Manufacturing & Construction figures, along with positive Services data. This has led investors to believe that we may not avoid the recession many through the UK would fall into around the turn of the year and this in turn may cause the Bank of England (BoE) to reconsider a further interest rate cut. Whilst it is unlikely...