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Forecast for the Week

Pound to Canadian Dollar Rate Remains Towards the Top of Its Range Despite Fears of Brexit Negotiation Delay

The Pound gets a boost as weaker oil prices drive the Canadian Dollar down,...

The Pound to Canadian Dollar exchange rate received a boost today and recovered some of its recent losses, after the Canadian Dollar dropped as oil prices hit the headlines. With the Canadian economy being reliant on its exports, and oil being one of its largest exports the value of oil is therefore likely to impact the Canadian Dollar.  This is what's known as a commodity currency and those planning a currency exchange involving the Loonie should be aware of this as it can lose/gain value when...
Canadian Dollar Suffers Seven-Week Low Following the Spread of the Coronavirus

Pound to Canadian Dollar exchange rates see rise to begin the week (Joshua Privett)

Pound to Canadian Dollar exchange rates have bolted up, well relatively in this fairly flat market, after what had been a fairly difficult end to the preceding week. The Pound has regularly suffered on Friday’s since the Referendum, with Sterling exchange rates suffering during the final hours of UK trading. The reason for these recurring patterns on Friday afternoons is due to abnormal speculative activity - in contrast to during the week. Traders effectively have to choose a stable currency in which to store their weekly profits in for...
Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

Best rate to buy Canadian Dollars with Pounds this week (Tom Holian)

The rate to buy Canadian Dollars with Pounds is now trading at its best level in a week in what has been a rather mixed period in terms of economic data. UK GDP which was published on Wednesday showed that growth in the UK stayed firm at the expectation of 1.7%. The estimate was the first release for the second quarter and as this quarter covered both the triggering of the Brexit negotiations and the general election the data announcement was key for what happened to...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

Where GBP/CAD Exchange Rates? (Matthew Vassallo)

GBP/CAD rates have spiked over the past week, with Sterling benefitting from improved run of UK economic data. The Pound gained some traction last week following strong Manufacturing & Construction figures, along with positive Services data. This has led investors to believe that we may not avoid the recession many through the UK would fall into around the turn of the year and this in turn may cause the Bank of England (BoE) to reconsider a further interest rate cut. Whilst it is unlikely...
Gbp to Cad Exchange Rate Hits a 1-Month High as Risk Appetite Returns to Global Markets

GBP/CAD Rates surge following ‘Agreekment’ (Daniel Wright)

GBP/CAD rates have breached fresh 8 year highs today - hitting 1.986 briefly on the markets before falling back down to 1.975 by the close of UK trading. This stunned market onlookers, and honestly it took a while for most of us to decipher why rates jumped up so high. Firstly, oil prices tumbled and they are expected to tumble more, as Iran nuclear deal nears. Once the sanctions are lifted against Iran when they agree to halt their nuclear weapons program, prices are expected...
GBP EUR Recovers from Early Losses on EU Trade

GBP/CAD rates see slight rise today to continue recent trend (Joshua Privett)

Despite the rise in oil prices catalogued over the past few days, the Canadian Dollar has continued to be outpaced by the recent recovery in the value of the Pound, with a net gain on GBP/CAD throughout the day of 0.25%. Economic data for the UK has continue to impress in complete contrast to the results we were seeing earlier in August. GBP/CAD rallied a full cent last Thursday on the news that the manufacturing sector and the business sentiment surrounding it rebounding by the...
Pound to Canadian Dollar outlook Will Sterling struggle against the Canadian Dollar?

How Has Tory/DUP Deal Affected GBP/CAD Exchange Rates? (Matthew Vassallo)

Yesterday we had confirmation that Theresa May’s lead Tory party had finally come to an agreement with the controversial Northern Irish DUP party, to form a working UK government. Whilst details about the arrangement were vague, it was confirmed that Northern Ireland will receive an additional 1 billion in funding, news which has caused unrest among many due its perceptive disparity. However, the announcement has helped to curb further losses for the Pound following its recent downturn. The Pound has been marooned under 1.70 against the...
GBP EUR Exchange Rate: Weekly Review July 16  

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 Exchange Rate: Weekly Review December 4th  

Sterling fails to hold on to its recent gains, where to next for the...

After rising earlier in today's trading session the Pound has seen a sell-off this afternoon, and with quite a busy week planned this week in terms of economic data releases, I think the Pound could be in for further falls later this week. The reason for the Pound's gains last week can be put down to the Brexit plan now being clearer after the UK PM, Theresa May outlined her Brexit plans during a speech last Tuesday. Furthermore, the GDP figure for the final quarter of...
GBP to EUR Forecast: Will Sterling See Further Losses Against the Euro?

Sterling exchange rates continue to slide – How low can the pound go?

Sterling exchange rates have seen further losses against both Euro and Dollar over the course of the trading week, as investors and speculators alike have made it clear there is a lack of confidence in the Pound at present. With the cost of living crisis bearing down on the UK economy and a prolonged recession on the cards we have started to witness a move away from the pound and it appears that it is being treated much more like a riskier currency rather than...