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...
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...
GBPCAD Rates: Lack of Faith in the Pound Highlighted by Oil Crisis?

GBP/CAD Rates Marooned Under 1.75 (Matthew Vassallo)

GBP/CAD rates remain marooned under 1.75 on the exchange, with the Pound struggling to continue its recent advances. The pair are current trading around 1.73 but despite yesterday’s better than expected UK Gross Domestic Product (GDP) figures, Sterling struggled to sustain this improvement. The UK economy remains extremely fragile in the eyes of investors and I cannot see any major improvement until we have a clearer picture of how, and when the UK intends to facilitate its exit from the EU. We also have...
GBP EUR Trades Above 1.18 After Weak ZEW Data

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...
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...
GBPCAD Rates: Lack of Faith in the Pound Highlighted by Oil Crisis?

CAD value determined externally

Until Friday this week, with very little data released on the Canadian economy, CAD value will largely be governed by forces outside of its control - such as the US interest rate decision on Wednesday, as well as further oil price fluctuations. The focus pairing for the week, as the paragraph above suggests, will be USD/CAD as the world watches to see if interest rates in it's largest economy will finally rise for the first time since the financial crisis. However, data released today on the...
GBPEUR Rejected by 1.17 Price Level Again

How will the EU Referendum affect my trade? (Daniel Johnson)

Current polls show that 52% of the UK wish to leave the EU. I feel the majority of voters in the leave camp are unaware there will be very little change with regards to migrant control, but if we leave but the impact on the UK economy could be catastrophic. The International Monetary Fund yesterday warned that trade relations will be put under significant strain and exports out of the UK would drop as a consequence. The UK economic growth forecast has now been...
GBPEUR Rejected by 1.17 Price Level Again

GBP/CAD – Is there any hope for Sterling?

GBP/CAD Forecast The true impact of the vote to leave the EU is ever present on the currency markets. The pound having fallen significantly against all major currencies. There has been little data of consequence out this week form the UK but we have still seen the pound's value drop. This is predominantly due to high probability that there will have to be a hard brexit after Francois Holland and Jean Paul Junker indicted there would be no trade negotiations unless Article 50 was triggered. Theresa...
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 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...