Pound to Dollar Rate Pushed Higher by Risk-on Mood

Bank of Canada Interest Rate Decision Tomorrow (Ben Fletcher)

Tomorrow afternoon the latest interest rate decision will be released by the Bank of Canada, the expectation that there will not be a change to the rate. In July at the last meeting the Monetary Policy Committee raised rates by 0.25% from 0.5% to 0.75%. This was well received by investors and the Canadian Dollar has gained significant ground since. Coupled with the interest rate hike the price of oil has also been a major factor into the Canadian Dollars strength. Hurricane Harvey in Texas...
GBPEUR Heads Lower After Data, BoE Comments

What can we expect next for the GBPCAD exchange rate?

The GBPCAD rate has recently risen presenting some excellent short term opportunities to buy the CAD. This has occurred completely against the grain of expectation as the sinking pound does appear to be on course for further losses. All in all I would not be gambling on GBPCAD rising much higher but the recent switch of sentiment, partly as the price of Oil falls is presenting a much better opportunity. All in all the Canadian economy is performing well and they have raised interest rates...
GBPEUR Rejected by 1.17 Price Level Again

Will Brexit concerns continue to drive GBP/CAD downward? (Joseph Wright)

The Pound to Canadian Dollar exchange rate has continued its downward trend during today's trading session, and I think it will be interesting to see whether 1.60 manages to act as a support level or not moving forward. The lowest level the pair have hit today is 1.6014 so the key level is getting closer. Sterling is generally under pressure at the moment but it has been helped today after UK GDP figures for July showed an improvement at a time when many are concerned that...
Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

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...
GBPEUR Rejected by 1.17 Price Level Again

Sterling slips as weak inflation data puts a question mark over a Bank of...

Those hoping the Pound would receive a boost this morning were left disappointed as this weeks key piece of economic data out of the UK failed to meet expectations. The data released this morning at 9.30am showed that the rate of Inflation has surprisingly dropped over the last month, and this has lowered the chances of an interest rate hike from the Bank of England. Many had expected to see the BoE look into raising rates in order to weather the negative effects on the UK...
GBPEUR Sinks Again with Virus Case Surge

Huge day tomorrow for the Loonie at 3 pm! Will the Bank of Canada...

There is huge expectation for the Bank of Canada (BoC) and Governor, Stephen Poloz, to raise Canadian interest rates tomorrw. The currency has risen to the best rates since April against the pound as the prospect of a hike triggers a flood of investment into the Canadian economy. With their main trading partner the United States roaring ahead next door, the good news is helping the Canadian economy and a rate hike now seems imminent when the decision is made tomorrow at 3pm. The Loonie...
GBPEUR Rejected by 1.17 Price Level Again

Volatile day on GBPCAD exchange rates!

Yesterday saw some big swings on the GBPCAD exchange rate reminding us how important it is to be prepared on the currency markets of any unexpected twists and turns. Just as the pound was having a very bad day and GBPCAD to 1.6780 the Bank of England Governor Mark Carney dropped some hints that he might wish to raise interest rates sooner in the UK than had previously been believed causing the rate to rocket to, by 3 hours later we were up at...
GBPEUR Rejected by 1.17 Price Level Again

Buying Canadian Dollar rates still softening ahead of Governor Poloz’s speech (Joshua Privett)

Due to the sheer volume of information and events hitting the wire at the end of this week in the UK - the Queen's speech vote, Parliamentary debates on the new manifesto - buying Canadian Dollar rates have been largely absent much influence from Canada itself. This should all change today with a speech from the Bank of Canada Governor Stephen Poloz. The next interest rate decision in Canada is on July 12th, and markets are keen to know whether a rate hike will emerge. In...
Pound to Canadian Dollar outlook Will Sterling struggle against the Canadian Dollar?

Pound to Canadian Dollar rate flat so far this week, will tomorrow bring movement...

The Pound to Canadian Dollar exchange rate has been trading within thin volumes so far this week, with the pair ranging just half a cent throughout today's trading session. The Pound is coming under pressure against many other currency pairs which some may consider as a sign of Canadian Dollar weakness. With the Pound losing around 10 cents against CAD since the snap election called by Theresa May didn't go to plan, I'm tempted to think that there isn't much further for the Pound to fall...
Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

What can we expect next for GBPCAD rates?

The pound looks like it could fall further with the outlook ahead for the UK very shaky indeed. Currently we have a minority Conservative government and the Queen's speech which was a much watered down version of the Conservative Manifesto has failed to set the pound alight. The price of Oil is a major factor on Canadian dollar exchange rates and the price of Oil fell yesterday, once again on more global concerns about oversupply. If you need to buy Canadian dollars I think...