GBPEUR Higher as Merkel Faces Lockdown Backlash

NAFTA breakdown has potential to weaken CAD (Daniel Johnson)

Trump plays hard ball on new NAFTA deal Donald Trump has decided to renegotiate the North American Free Trade Agreement (NAFTA) which has been in operation for over twenty- three years. Trump believes Mexico and Canada have benefited from the agreement, but hasn't been as lucrative as it should be for the United states. Trump believes NAFTA was a disaster and went as far as to say it is "the worst trade deal in history." Mexico, Canada and the US have now sat down to renegotiate the...
GBPEUR Sinks Again with Virus Case Surge

Could GBPCAD hit above 1.75?

Today is a crucial data for the GBPCAD exchange rate as we get closer to an understanding of the interest rate outlook for the UK which will be a key driver of the pound. Essentially the pound and currency pairings involving the pound have been largely driven by expectations on the interest rate rising for the UK. With the decision due today at 12 noon, GBPCAD could be in for a busy day! The Loonie has been much softer lately as a softening in tone...
How Is COVID-19 Effecting GBP to CAD Exchange Rate?

GBPCAD hits 1.70!

The pound to Canadian dollar rate has risen to 1.70 as investors gently stepped back from a slightly less hawkish BoC (Bank of Canada) yesterday. With no further hike as expected and a less strong commentary around the pursuit of further hikes the Loonie slipped in afternoon trading. This process had already been given a kick start earlier in the day by the ONS (Office of National Statistics) releasing data showing the UK economy growing at 0.4% giving the pound a much needed boost....
Pound to Dollar Rate Pushed Higher by Risk-on Mood

GBP CAD Rallies on Positive Brexit Noises from EU

GBP CAD exchange rates have risen today despite a poorer weak for UK economic data which had resulted in a slide for sterling across all of the major currencies. The pound has rallied today on the back of some better news coming from the EU with regards Brexit. The pound has been weaker as result of uncertainty as to whether or not the Bank of England will raise interest rates at the November 2nd meeting. UN inflation may have reached a very high 3% this...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

How will GBPCAD perform for the rest of the month?

The pound to Canadian dollar has been slipping from the highs of almost 1.68 to more comfortable levels in the 1.64-1.65 range. Most clients looking to buy Canadian dollars are now faced with two key events to try and determine the future direction on the pairing, namely the likelihood of an interest rate hike by either the Bank of England or the Bank of Canada. For both countries Inflation is a key factor in determining whether or not the central bank will raise interest rates....
GBPEUR Rejected by 1.17 Price Level Again

GBPCAD continues to slide!

GBPCAD rates have continues to slip from the very recent highs which saw the levels rise to near 1.70. Having spent much of the last few weeks in the lower 1.60's and even less than 1.60, the recent spike presented a much improved fresh opportunity for clients looking to buy Canadian dollars with pounds. Overall the market seems likely to favour the Loonie as improving Oil prices and also a weaker pound support the GBPCAD slide. The price of Oil has risen which has supported...
GBPEUR Rejected by 1.17 Price Level Again

GBP CAD Rallies on Theresa May Speech in House of Commons

GBP CAD has seen a good boost to start the week with gains of almost 1% for the pound against the Canadian dollar. Last week was on the whole negative for sterling exchange rates as the uncertainty over Brexit continues to be the single biggest driver for the UK and hence the pound. Today’s rally appears to be on the back of an expected statement from UK Prime Minister Theresa May to the House of Commons this afternoon where it is understood she will give...
GBPEUR Rejected by 1.17 Price Level Again

Canadian Dollar Ahead of Bank of Stephen Poloz Speech

The Canadian dollar should be in for an interesting week ahead of a major speech from the Bank of Canada. Bank of Canada Stephen Poloz will be speaking on Wednesday and will be eagerly anticipated considering the recent actions from the central bank. The Bank of Canada has raised interest rates twice this year in both July and September and any clues as to another hike could see considerable market volatility for GBP CAD. Any suggestion fo another hike could see the Canadian dollar...

GBP CAD Rate Continue to Recover on Stronger Pound

The pound has made a good recovery against the buoyant Canadian dollar in the last week. GBP CAD exchange rates are now over 1.66 which is almost 8 cents higher than two weeks ago. Clients looking to buy Canadian dollars are currently seeing a good buy opportunity which would be worth considering before tomorrow’s key speech from UK Prime Minister Theresa May. Any “intervention” that seeks to bring Britain in line with the EU demands of paying an exit fee could see further gains for GBP...

Canadian Dollar Strength!

The Canadian dollar continues to maintain the higher ground against most of the major currencies as recent developments drive the Canadian dollar higher. After the surprise interest rate hike from the Bank of Canada this month the dollar has received yet another boost. The Canadian economy has certainly proved itself to be particularly strong which is being acted upon by the Bank of Canada. Normally interest rate increases are good for the currency concerned as investors start moving funds in to the dollar seeking...