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

GBP/CAD Rates Continue to Fall (Matthew Vassallo)

GBP/CAD rates have taken another hit during Tuesday morning’s trading, as the markets digest the fallout from yet another terror attack in Belgium this morning. With confirmation of at least two separate attacks, our thoughts go out to the victims and families of those involved. It is clear that the current global climate is breeding fear into the markets and this will continue to increase the volatility we see over the coming months. The Pound continues to find life tough going under the current market...
Pound Stronger vs Canadian Dollar this Morning

CAD Boosted By Oil Gains And USD/GBP Weakness (Joseph Wright)

The Canadian Dollar spiked upwards yesterday for a number of reasons, gaining just under 2% against the US Dollar and over half a per cent against the British Pound. As many readers will already be aware, the Canadian Dollar is heavily pegged against the value of oil as Canada is one of the world’s largest exporters of oil, therefore big swings in its value can have a profound effect on the value of the Loonie (Canadian Dollar). Yesterday the value of oil was boosted after...

How will the Budget affect GBP/CAD?

George Osbourne delivers the Budget today at 12.30pm.  I expect some some quite severe cuts in order to reduce the deficit. The market does seem to be factoring these potential cuts as GBP/CAD now sits in the low 1.88s. The cuts could well cause further weakness once confirmed, This will create an excellent buying opportunity for CAD sellers. I would not procrastinate however, I feel the UK will remain in the EU when the referendum vote is cast on 23rd June and we will...
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

GBP/CAD Rates Continue to Slide (Matthew Vassallo)

GBP/CAD rates have continued to slide over recent weeks, with the current negativity surrounding the UK economy handicapping any sustainable advances for GBP. The Pound has come under increased pressure of late and with tomorrow’s budget hanging over investors and the upcoming EU referendum in June, it is likely that Sterling will continue to find life tough going over the coming weeks. With a divide in Parliament regarding our future participation in the EU, it is difficult for the markets to gauge any likely outcome...
Pound to Dollar Rate Pushed Higher by Risk-on Mood

CAD rates subject to FED decision

CAD exchange rates are likely to see some volatility today following the US interest rate decision. Whilst this event is not in Canada itself, this is expected the be the first interest rate rise since the financial crisis for any country in the Western world, so financial ripples should affect the entirety of the currency markets - including CAD's value. The Canadian Dollar is set to be pulled in either direction from the news - depending upon how much the FED raise rates, or whether they...
Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

CAD continuing to lose value

This slide on CAD has become surprisingly sustained. Previous slides on the oil prices normally saw CAD's value stabilise within one or two business days. This 3 day loss which has seen GBP/CAD for example rise by over 4 cents as the Canadian Dollar weakens has instead set a new precedent. I must also point out that during December you do tend to get more exaggerated movements on the markets as trading thins in the run-up to the holidays. Large and isolated transactions can move...

Canadian Dollar falls dramatically as oil price collapses further

The Canadian Dollar came under sever pressure yesterday with the sustained drop in oil price which was exaggerated on Wednesday this week to the lowest levels since 2009. GBP/CAD rose to 3 month highs, EUR/CAD is the same, and USD/CAD is now at fresh 10 year highs. This oil price fall is a dramatic reaction following a recent meeting for OPEC which was designed to lower oil production worldwide and help to bring prices under control. The announcement of this meeting was originally why oil prices...
GBPEUR Rejected by 1.17 Price Level Again

Canadian Dollar rates on back-foot

The Canadian Dollar starts the month on a poor footing following a month where oil prices reached new highs, only to be erased in the latter half of October. The Canadian Dollar still had a net-gain against the Euro and Pound Sterling last month and finished relatively level with the USD, butt the initial gains proved to be only a short-term phenomenon. Many had hoped the recent rally for oil was going to be sustained. Leaders for oil exporting nations as well as major multinationals were...
GBP EUR Trades Above 1.18 After Weak ZEW Data

USD/CAD and EUR/CAD exchange rates the focus for the day

The long awaited US interest rate decision will be released today.  With the US being the largest economy in the world, and a significant proportion of of global debt being denominated in US Dollars, this decision will likely affect all major currencies. For the Canadian Dollar, the two major currencies in question which will be swinging wildly as a result, will be USD/CAD and EUR/CAD (to a lesser extent GBP/CAD). USD/CAD has already come under pressure and may fall below 1.32 soon, and EUR/CAD however,...