Buying Canadian Dollars – Sterling Strength
The pound is edging higher against the Canadian dollar having seen an excellent few days. The question now is whether we see a return to $2 like we have seen against the Australian dollar, another commodity currency. The pound has been supported on stronger unemployment data and the accompanying wage growth numbers which are keenly eyed by the Bank of England. The rise in wages is a sign of inflation to come and the Bank of England will be ready to take action when...
What can we expect next for GBPCAD exchange rates?
The pound to Canadian dollar exchange rate has been very attractive for CAD buyers lately as rates rise from in the low 1.60's to well over 1.70 almost 1.80! If you are looking to buy CAD the outlook is extremely attractive for the future but of course there are always challenges ahead which could upset the current trend. The overall impression on the market is that we could see GBPCAD test 1.80 but of course there are never any guarantees!
The Price of Oil has...
What can we expect next for GBPCAD exchange rates?
Overall the market is expecting the pound to enter a more volatile phase as we get further news on just what to expect from the Brexit plans and negotiations. The market has been pricing in sterling weakness and as such the triggering of Article 50 was at the end of a bit of a non-event. Market watchers expecting some big improvements in the rate were left disappointed by the lack of movement but at least it wasn't bad news for Canadian dollar buyers. Sterling...
GBP/CAD is likely to continue its long term downward trend (Joseph Wright)
It's almost been a month since the 'Brexit' vote was first announced and GBP/CAD is still trading just off of it's 52 week low of 1.7145, a lower level that was hit on the day of the announcement.
The Pound is under pressure for a number of reasons, most notably the step into the unknown as the UK was a member of the EU for almost 4 decades and markets across the board had hoped for a 'Bremain' vote. I think that moving forward we...
Will GBPCAD rise or fall?
The pound has really struggled today dragging GBPCAD down almost 3 cents as investor concerns over the economic outlook for the UK increase. The Bank of England reduced growth forecasts and withdraw previous support for an interest rate hike causing the currency to slide as largely expected. The GBPCAD rate had been moving closer to the 1.60 rate in the last few weeks but a much softer CAD had provided some short term relief for CAD buyers. If you have a transfer buying or...
Will GBP Recover its Position Against the CAD? (Matthew Vassallo)
GBP/CAD rates have remained flat during Wednesday’s trading but the general trend still remains Sterling negative. With the markets focusing on the much debated possible “Brexit” from the EU, it is unlikely Sterling will receive any sustained support in the run up to the referendum in June.
The CAD has been boosted by an improvement in their exports and a recovery in oil prices. Despite poor inflation data last week GBP/CAD is still holding firm around 1.86 on the exchange and the days of 2...
Will GBP continue its recovery against CAD, and how is the presidential election result...
It's likely to be a busy night and following day for exchange rates across the board, as the outcome of the US Presidential Election is likely to be announced in the early hours tonight.
It seems like the calm before the storm as Sterling exchange rates have been trading within relatively thin volumes over the past trading session, as investors await the outcome of the presidential race.
Today economic data has done little to move markets, and most pairs are likely to be driven by which...
What can we expect next for GBPCAD exchange rates?
The pound to Canadian dollar has changed dramatically in the last month principally as the Canadian dollar strengthens on the back of a much higher price of oil. The expectation is that the price of oil could rise even further in the coming weeks as investors strive to recalculate the overall values given new information on where this important commodity may go.
Canada's main export is oil which is why the value of the Loonie dollar is so heavily influenced by changes in the price...
Will Sterling continue to rally after hitting annual lows just a few months ago?
Sterling exchange rates have rallied in a dramatic fashion after hitting both annual, and record lows in some cases, as recently as just 3-months ago.
During late August and early September, the Pound was in the headlines for all the wrong reasons when the disastrous and poorly planned mini-budget was announced. In the wake of the Chancellor at the times updates, the Pound fell to its lowest levels against the US Dollar on record and also stuck annual lows against the majority of major currency...
When Do I Trade GBP/CAD? (Matthew Vassallo)
GBP/CAD rates have dropped over the past week, with a run of inconsistent UK economic data handicapping any further Sterling advances. The pair are now trading near 1.72 on the exchange and as I eluded to in my previous posts, the Sterling strength seen earlier this month proved not to be sustainable. As such, any clients who did not protect their positions will now be questioning whether we will see a recovery over the coming weeks.
Whilst it is very difficult to predict exactly how...