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

NAFTA Uncertainty causes CAD weakness (Daniel Johnson)

NAFTA wieighs heavily on CAD CAD has struggled against the Pound of late. The uncertainty surrounding the renegotiation of the North American Free Trade Agreement (NAFTA) has weighed down the looney. If there is one thing the currency market does not react well to it is uncertainty. The deal in place with Canada, Mexico and the United States is being renegotiated due to Trump's unhappiness with the current criterion on regulations. He has gone as far as to state it is disastrous and threatened to leave...
Pound Stronger vs Canadian Dollar this Morning

Canadian Dollar gains back ground as stock market volatility cools – Inflation next week...

Canadian Dollar exchange rates have gained ground a little over the past few trading days as U.S stock market volatility has cooled a little over the course of the week. We did see another drop during the opening bell in trading yesterday, however there was a fight back and the losses were made up by the end of the trading day. With the USD being so volatile at present it is fairly hard to predict just where CAD exchange rates will head next, as there are...
GBP EUR Edges Higher After Recent Rates Sell-Off

CAD Forecast – Sterling Under Pressure as Brexit Talks Intensify (Matthew Vassallo)

The CAD has found some support against Sterling this week, with the Pound coming under pressure again a host of the major currencies. The CAD had been struggling since the turn of the year, despite positing some positive economic figures. Much of the issues lay with concerns over the North American Free Trade Agreement (NAFTA), with US President Donald Trump extremely vocal about his dissatisfaction with the current terms, feeling they do not benefit the US as they should. Whilst talks are on-going, he has already threatened...
Pound Stronger vs Canadian Dollar this Morning

Pound hits best rate to buy Canadian Dollar since May 2017 (Tom Holian)

The Pound has hit the best rate to buy Canadian Dollars since last May with the Canadian Dollar weakening in part due to the uncertainty surrounding NATFA. The US Dollar has also weakened to its lowest level against the Pound since the Brexit vote back in June 2016 and this has also caused the Canadian Dollar to weaken vs Sterling. The US Treasury Secretary Steven Mnuchin has been suggesting that the US is welcoming a weaker Dollar which is turn is also weakening the CAD vs...
GBP EUR Edges Higher After Recent Rates Sell-Off

Will the Pound continue to climb vs the Canadian Dollar, and what factors could...

The Pound has been climbing against all major currency pairs recently, after sentiment has improved surrounding the UK economy quite dramatically in recent weeks. It seemed to get a shot in arm a few weeks back when both Spain and the Netherlands announced that they want post-Brexit conditions to remain conducive to business continuing as normal. Since then hopes of a transitional deal have increased with some major media outlets in the UK jumping the gun and announcing that the deal and the conditions involved had...
GBP EUR Edges Higher After Recent Rates Sell-Off

What can we expect next for the Canadian dollar?

The Canadian dollar is looking slightly weaker against the pound which has surprisingly found some form lately. We are still not out of the woods for the Brexit and it does feel the Canadian dollar should from the fundamental considerations being strengthening very soon. More often than not currency rates move in advance of an event and I think this is why rates are so good. If you are looking to buy Canadian dollars we are at some of the best rates to sell pounds for...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

Bank of Canada raise interest rates as expected to 1.25% – Slight CAD strength...

Today saw the Bank of Canada raise interest rates by 0.25% which saw slight gains for the Canadian Dollars against most majors. The BOC however did mention in a statement that there are concerns surrounding the NAFTA agreement (North American Free Trade Agreement) was still a concern and this held back any major gains for the Canadian Dollar. Generally, an interest rate hike is seen as very positive for a currency and a cut in rates is seen as negative, however with the hike in rates...
GBP EUR Edges Higher After Recent Rates Sell-Off

Bank of Canada predicted to hike rates (Daniel Johnson)

Is a Rate hike justified by the BOC? This afternoon is the Bank of Canada (BOC) interest rate decision. The expectations are that there will be a hike from 1% to 1.25%. Bank of Canada Governor, Stephen Poloz has stated a change in interest rate would be data dependent. If this is the case then  a rate hike should occur today. We have recently witnessed the best unemployment data in four decades. Personally, I am of the opinion a rate hike in the current climate is...
GBP EUR Edges Higher After Recent Rates Sell-Off

Will GBPCAD hold above 1.70?

The pound to Canadian dollar levels have on the interbank rate improved back over 1.70 as concerns over the NAFTA (North American Free Trade Agreement) surfaced creating uncertainty over the outlook for the Canadian economy. The Canadian economy is very much supported by its exports in key commodities like oil and lumber which the US is a major purchaser of. Should NAFTA be rejected by Trump then the Canadian would struggle, this could present better rates in the future. If you have a transfer buying...
GBP EUR Exchange Rate: Weekly Review December 4th  

What can we expect for GBPCAD rates in January?

The pound has dipped against the Canadian dollar, principally owing to the developments in the price of Oil which has improved lately. The Canadian dollar is known as a commodity currency and it will often react to changes in the price of certain commodities which directly support and influence the Canadian economy. Oil is one of Canada's main exports and a key driver of prices for the Loonie dollar against all the major currencies. The outlook for sterling is actually much more positive following the...