Brexit and Coronavirus Weigh on GBP as Oil Price Collapse Causes CAD Value to Fall

UK Economic data to impact the Pound vs the Canadian Dollar (Tom Holian)

Sterling has seen some gains against the Canadian Dollar during the last few weeks as UK economic data published recently has shown that August was a strong month for the British economy. Following the vote to leave the European Union over 2 months ago there were big fears that the UK economy would really struggle but this has not been the case. Indeed, some of the data showed the biggest monthly increase on record in some sectors and this helped to strengthen the Pound against all...
GBP EUR Exchange Rate: Weekly Review July 16  

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 Rate Remains Towards the Top of Its Range Despite Fears of Brexit Negotiation Delay

Cad holds steady as Oil Prices Firm

The price of Oil has risen as the Canadian Oil Sands fires stoke Oil supply fears. Canada's Oil Sands are the world's third largest proven reserves so the worry over just how these fires will impact Oil supply is important. If you need to buy Canadian dollars the price of Oil is an important factor in determining the strength and weakness of the Canadian currency. Canada is a major exporter of Oil so the economy depends heavily on Oil and other commodities such as...
GBP EUR Exchange Rate: Weekly Review December 4th  

CAD continuing to strengthen

It seems that CAD rates are continuing to move higher following recent losses. Even news that oil prices had dropped following poor Chinese data wasn't enough to stop GBP/CAD from falling back into 2.01 for the first time since July. Previously the Canadian Dollar had been weakening with news coming out of China about a severe slow-down in their manufacturing sector last month - growing at the slowest recorded pace in the last three years. This caused further falls in oil prices as demand for the...
GBP EUR Exchange Rate: Weekly Review July 16  

Bank of Canada keeps Interest Rate on hold but could they rise soon?

The Bank of Canada has kept interest rates on hold today as we get closer to understanding further what they plan for monetary policy in the future. The BoC has brought forward their plans to hike interest rates in the future, prompting some small rises in the value of the Canadian dollar against most currencies. GBPCAD which has risen to almost 1.67 has fallen back to 1.66 which is presenting a much-improved position to buy pounds with the Loonie. If you are buying Canadian dollars...
Pound to Canadian Dollar outlook Will Sterling struggle against the Canadian Dollar?

GBPCAD Dips As Fears Of A Brexit Continue

Sterling exchange rates dropped heavily against the Canadian Dollar during today’s trading session, and there’s a possibility this trend could continue throughout the night as we anticipate today's Canadian Federal Budget. GBPCAD dipped after an alarming report of a ‘Post Brexit’ Britain which has seen Sterling’s value drop against all major currencies, most notably the Canadian and Australian Dollars. In the run-up to today’s Federal Budget we've seen the Loonie post strong gains as oil prices have strengthened once again after further speculation surrounding a price...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

What can we expect for GBPCAD rates in 2017?

The pound is likely to struggle in 2017 but what about the Canadian dollar? The GBPCAD rate has been volatile in 2016 and I expect this to continue in 2017. Two of the main issues on this currency pairing will remain in 2017, that is the Brexit and the price of Oil. These two issues will continue to dominate and influence the GBPCAD exchange rate. Understanding just what happens on these events will help determine what kind of exchange rates we see moving forward....
GBP EUR Exchange Rate: Weekly Review July 16  

GBP/CAD exchange rates falling further (Joshua Privett)

To end the week the Canadian Dollar has been the currency which has seen the largest gains against the Pound today. GBP/CAD has collapsed due to absolutely staggering employment figures in Canada. In the month of March alone more than 40,000 jobs were added to the economy, when only circa 10,000 were expected, causing the unemployment rate to fall down to 7.1%. Markets move on expectations. Slight gains had already been priced into the value of Canadian Dollar buying rates to work alongside the slight gains...
GBP EUR Exchange Rate: Weekly Review July 16  

Quiet week for Data

This week the only significant release of data to give us a glimpse into the Canadian Economy will be on Friday, where GDP figures for June will be revealed. Until then GBP/CAD, EUR/CAD and other CAD pairings will be governed by events outside of the country. Following surprisingly goodretail sales figures for the Canadian economy last week, growing twice as fast as analysts had expected, GBP/CAD rates shot down to 2.01 and have since settle just above 2.02. This was also helped by the opposite...
GBP EUR Recovers from Early Losses on EU Trade

Will GBP continue its recovery against CAD, and how is the presidential election result...

It's likely to be a busy night and following day for exchange rates across the board, as the outcome of the US Presidential Election is likely to be announced in the early hours tonight. It seems like the calm before the storm as Sterling exchange rates have been trading within relatively thin volumes over the past trading session, as investors await the outcome of the presidential race. Today economic data has done little to move markets, and most pairs are likely to be driven by which...