Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

EUR/CAD the focus today

Another data light day for the Canadian Dollar and its pairings finds its only exception in EUR/CAD today, with significant releases expected in the Eurozone economy. Import and export data will be published for both Germany and France, and the data for the second quarter GDP figures in the Eurozone will be published. EUR/CAD levels got a welcome boost ahead of these data releases, as markets saw a teaser in the form of strong German Industrial Production figures - which came in showing higher than...
GBPEUR Rejected by 1.17 Price Level Again

CAD continues to go from strength to strength (Joseph Wright)

The Canadian Dollar has continued to climb in line with the improving oil price, as Sterling finds itself in the unenviable position of August's biggest loser of the major currency pairs. The Canadian Dollar is closely correlated to the value of oil as it's the country's biggest export, so with oil recently hitting a one month high it's no surprise to see the Loonie posting gains, and I think it's worth noting that CAD has gained on the USD for around 6 consecutive trading sessions...
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...
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...
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...
Canadian Dollar Suffers Seven-Week Low Following the Spread of the Coronavirus

CAD buying rates still low

CAD rates across the board, whether USD/CAD, GBP/CAD or EUR/CAD are still remaining stubbornly low ahead of the election on Monday - I have never seen this level of apathy towards an event which will affect the country for years to come. Especially when polls are close. There are three possible reasons for this, one of which has been touched on in earlier posts. The recent rises in oil prices have hailed a new confidence in the CAD which had previously been causing the consistence slides on...
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

GBP/CAD likely to continue its downward trend on ‘Brexit’ fears (Joseph Wright)

The rate of exchange for Sterling sellers has taken a significant hit over the past week or so, and with the EU Referendum now just around the corner I can't help but think this trend will continue over the short term. Whilst the Pound has been under pressure due to the political uncertainty surrounding the vote on the 23rd of this month, the Canadian Dollar has been benefiting from surging oil prices which have magnified Sterling's weakness, meaning that this month alone the Pound has...

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

Will the Pound to continue to climb against the Canadian Dollar? (Joseph Wright)

The Pound has climbed against all major currency pairs today, easing fears that the pound would see another sharp sell-off in the wake of the official triggering of Article 50. Great Britain now has until March the 29th in 2017 in order to arrange to necessary trade agreements to maintain its position on the global stage economically. Many would have expected to see the Pound soften in the wake of Brexit officially beginning, especially after the reaction of the financial markets to the original vote...

Pound gains on the Canadian Dollar as hopes of the Brexit starting this week...

Sterling gained across the board of major currency pairs today as investors ramped up hopes that Article 50 will be triggered this week. Some believe the triggering of Article 50, and therefore the formal beginning of the Brexit process, could take place as early as tomorrow if the Brexit will is passed through parliament. Whilst the Pound gained value today against all majors, some are expecting to the see the pound fall in the wake of the start to the Brexit, but based on today's performance...