Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

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...
Pound to Canadian Dollar Rate Remains Towards the Top of Its Range Despite Fears of Brexit Negotiation Delay

Canadian Dollar Rebounds

Yesterday is now being dubbed as 'Black Monday', as a mass panic sell off of Chinese stocks caused a global rout on the stock markets. Capital previously held as securities in the stock market were sold off and either re-invested elsewhere or stored in a chosen currency. The Canadian Dollar lost heavily as this boosted 'safe haven' currencies such as Sterling, the USD, and more surprisingly the Euro (a result of their recent commitment to financial security and its relative cheapness.) This boosted GBP/CAD, USD/CAD...
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...
Pound to Dollar Rate Pushed Higher by Risk-on Mood

Is Sterling set for a further fall against CAD? (Daniel Charles Johnson)

Brexit has caused a dramatic fall for Sterling against the majority of major currencies. The International Monetary Fund (IMF) warned yesterday that if trade negotiations between the UK and the EU do not go smoothly there is the possibility of Britain falling in to a recession. I am not pessimistic. I think now we have a new cabinet in place and Theresa May at the helm I think we will see a gradual recovery for the pound. She is due to meet Angela Merkel...
GBPEUR Rejected by 1.17 Price Level Again

Buying Canadian Dollar rates up and preparing for massive swings ahead of UK growth...

Buying Canadian Dollar rates have seen a boost this morning ahead of the UK’s key data release over the last few months, growth data. It has been a long wait to get a macro-view of just how much the Brexit vote has affected the UK economically since June 24th. The economic shock of the Brexit is something which has been in the news heavily over the past few months, but in the past it has been impossible to quantify wholly for markets to get a...
GBPEUR Heads Lower After Data, BoE Comments

GBP/CAD rates balancing out

The slide in GBP/CAD rates over the past few days seems to have halted around the 2.03 mark. CAD strength has played a major part in this reversal of fortune where rates briefly hit 2.098 following the event of Black Monday. Stock markets have recovered since, and state intervention  in the Chinese economy has been received well by markets, as a result a more positive outlook for global growth has pushed up oil prices - a key factor in CAD strength and has weakened GBP/CAD as...
GBPEUR Heads Lower After Data, BoE Comments

GBP/CAD Rates Fall as Oil Prices Rise (Matthew Vassallo)

GBP/CAD rates have fallen over the past week, with the CAD gaining over three cents at the high. The pair were trading North of 1.70 but following Sterling’s decline trades today have been going through around 1.67 on the exchange. The CAD has benefited from the steady rise in oil prices of late, which has helped to drive its value up. Due to the Canadian economies heavy reliance on the export of their crude oil, the markets will always react to the fluctuation in oils...
Pound to Canadian Dollar Rate Remains Towards the Top of Its Range Despite Fears of Brexit Negotiation Delay

How could this weeks election effect the Pound to Canadian Dollar rate? (Joseph Wright)

There are a number of factors affecting the Pound to Canadian Dollar rate this week, with the UK general election this Thursday being the main driver of price movement. The Pound has weakened over the past few weeks after the polls covering this weeks election have shown that the Conservatives lead is narrowing. I think that should there be a shock result in the election this Thursday we could see the Pound sold off quite heavily, as UK Prime Minister Theresa May initially called the...
GBPEUR Heads Lower After Data, BoE Comments

Canadian Dollar falls with oil price

The Canadian Dollar has held relatively steady until today following its recent gains against most major currencies. Data was released yesterday which showed global national stockpiles of oil had increased quite dramatically. This caused another surprise drop in oil prices when most market commentators and even companies had banked on prices having bottomed-out already. Stockpiles are how markets gauge current production and future demand. A massive stockpile suggests overproduction, and suggests demand will likely fall in the future. Normally when oil prices are incredibly low,...
Pound Stronger vs Canadian Dollar this Morning

GBP/CAD falls again as ‘Brexit’ fears begin to weigh on the Pound once again...

The Pound has fallen across the board once again today as Brexit fears have once again begun to instill fear within financial markets. The Pound had been gaining in value towards the end of last month and also at the beginning of this month, but that trend has now been reversed. The catalyst for this decline seems to be the most recent Inflation Figure released by the Office for National Statistics which showed that inflation is currently at 0.6% which was below their expectations. It's now...