Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

GBP/CAD and EUR/CAD rates still very tempting…

A busy week ahead for data releases in the Canadian economy, as well as other major countries which will affect Canadian Dollar exchange rates against Sterling, the Euro and the US Dollar. Today Canadian Manufacturing Shipment Data will be released for the Canadian Economy. This is normally seen as a measure of demand for Canadian Goods. This data is normally a positive reflection for the Canadian economy. However, because oil prices have slumped, and price competition from the Middle East has seen Canada lose some...
Gbp to Cad Exchange Rate Hits a 1-Month High as Risk Appetite Returns to Global Markets

CAD – Calm before the storm

CAD rates have been relatively stable today ahead of what is expected to be a volatile week and month as we near the interest rate decision in the US on Thursday and Canada's election on the horizon. The first major event to affect CAD rates will be the interest rate decision for the US. It's too close to call. Recent data emerging from the US economy paints a strong picture. Unemployment at 5.1% certainly tops the list, but this is also occuring in a period...
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...

UK General Election and the impact on the Canadian Dollar (Tom Holian)

The Pound vs the Canadian Dollar has continued to remain relatively strong recently despite the looming general election. In two days time we are likely to know who the next government will be as the country goes to the polls tomorrow. At the moment it looks as though the Conservatives will be the likely winners but by how much is the real question which is likely to affect GBPCAD exchange rates. A few weeks ago we saw the Pound hit the highest level all year vs the...
GBPCAD Rates: Lack of Faith in the Pound Highlighted by Oil Crisis?

Could the Pound continue to rise vs the Canadian Dollar? (Tom Holian)

The US has posted lower than expected GDP data for the quarter at just 0.7% which is much lower than what President Donald Trump has suggested previously when he made claims that the US would grow by 4% in his election campaign. Owing to its close trading links between the US the Canadian Dollar has fallen because of the news. If the US slows down this is likely to have a knock on effect in Canada hence the reason for the fall for the CAD$...
GBP EUR Exchange Rate: Weekly Review July 16  

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...
Pound Sterling Moves Higher Against the Canadian Dollar on Oil Price Concerns

Stronger Canadian Dollar as oil price strengthens, will the strong run for oil help...

The Loonie (Canadian Dollar) has begun the week in strong fashion after gaining on the US Dollar during today's trading session. After a few very strong weeks for the Greenback (US Dollar) it's currently heading for its 4th successive day of losses, with some believing that the bull run for the US Dollar is running out of steam. One of the main reasons for CAD's strength apart from benefiting from the weaker Dollar is the stronger oil price. It's been increasing in value recently for a...

Will the pound get stronger? Growth figures show a surprise positive reading on Friday

The UK looks set to avoid a recession in 2022 as GDP data was announced on Friday. The UK economy grew by 0.1% in November, with the services sector providing a welcome boost when a 0.2% expansion was announced. This came as a surprise to many forecasters, with a 0.3% GDP contraction the market expectation. Despite this, the pound failed to make any significant gains against the Euro, finishing the week trading at 1.1280 – a near 0.75% decrease since markets opened on Monday. The Pound...
Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

Sterling Canadian Dollar waits for UK GDP data (Tom Holian)

Sterling vs the Canadian Dollar has improved marginally during the last fortnight since the political situation has settled down in the UK. Since the announcement of new Prime Minister Theresa May this has helped to bring back some confidence to the markets. The Brexit vote shocked the global currency markets with big falls against all major currencies for Sterling exchange rates. On Friday the UK announced the latest Purchasing Manager's Index which measures UK economic activity and this came out with a figure at just 47.7 and...
Pound Stronger vs Canadian Dollar this Morning

GBP/CAD rises against oil prices

Just one day after the election the rally for the Canadian Dollar following the installation of a majority government is already over, and GBP/CAD is near 2.01 on the markets. GBP/CAD Rates have rallied in the short term with the eventual introduction of Iranian oil into the marketplace, which has lowered its price due to increased supply, in-turn weakening the value of the Canadian Dollar. All eyes are now looking forward to the Bank of Canada interest rate decision today. This will set the tone for the next month...