GBPCAD

It’s been a busy week of political updates out of the UK so far, with sterling exchange rates beginning the day in strong fashion this morning after the most recent Brexit development. Brexit uncertainty as Boris Johnson is defeated in Parliament vote Boris Johnson has now been Prime Minister for 6-weeks and his plans to carry out Brexit by the 31st of October are already looking difficult as members of the House of Commons continue to vote against a No-deal Brexit being a lawfully viable option....

Movement on GBP/CAD exchange rates as Bank of Canada may cut interest rates Pound to Canadian dollar exchange rates have found themselves above 1.60 on the interbank rate, following a period of resting below this level. Part of this has been down to increased thoughts that perhaps the Bank of Canada (BoC) will cut interest rates in the future. A cut by Canada's main trading partner, the US, has seen pressure form on the BoC to consider a cut ahead. Generally speaking, the cutting of an...

GBP/CAD directed by Brexit developments The Pound to Canadian dollar exchange rate is predominantly being dictated by Brexit. At present the situation does not bode well for the pound. Boris has dismissed members of parliament from mid September until late October in an attempt to foil any move to prevent a no deal. Brussels stance seems to remain the same and as yet there have been no concessions made on the Irish border. Generally speaking, you would expect the higher the probability of a no deal the weaker...

Brexit and global trade affect Pound to Canadian Dollar exchange rate The pound to Canadian dollar exchange rate remains sensitive to all the latest Brexit developments in the UK as well as the ongoing uncertainty over global trade. Boris Johnson has recommitted that Britain will leave the EU by 31st October 2019 although he faces attacks from both the left and the right of the political spectrum which points to a potential rocky ride for GBP/CAD exchange rates. Yesterday, meetings were held by MP’s from...

Canadian Dollar sees movement as Trade Wars continue Pound to Canadian dollar exchange rates have been volatile owing to the continued lack of clarity surrounding the Trade Wars. We have seen the Canadian dollar volatile as the markets try to second guess what lies ahead for the dispute with China and the US, plus how this will affect the global economy. As a commodity currency the Loonie dollar is sensitive to developments with the global economy. The Canadian economy is a major exporter of raw materials,...

Pound to Canadian dollar exchange rates tipped 1.62 at overnight on the interbank exchange, but the pound found only fleeting support above this threshold, falling back towards 1.6150 by the opening of European trading. Boris Johnson to meet Angela Merkel in Berlin: Could the fallout of talks affect GBP/CAD rates? Reports this morning have confirmed that UK Prime Minister Boris Johnson is heading to Berlin to meet German Chancellor Angela Merkel later today, with his primary objective to find support for a complete removal of the...

Pound to Canadian dollar exchange rates have risen to 1.6183 on the interbank exchange on Monday evening trading, as concerns over global growth threaten the recent strength of the Canadian dollar. The Canadian currency had been relatively immune from recent concerns relating to the cutting of interest rates, but with the price of oil falling, the Loonie dollar is facing questions. Brexit holding Sterling back from making gains against the Canadian Dollar The pound is not in any major position to capitalise against the Canadian dollar,...

GBP and CAD receive support The pound to Canadian dollar exchange rate struggled to move much higher towards the end of last week when sterling was seeing a resurgence against a number of the major currencies. Whilst the pound found support last Thursday and Friday the Canadian dollar was also supported as investors moved towards the riskier commodity currencies including the Canadian dollar, cancelling out any gains for either currency. The fact that stock markets were climbing highlights some renewed confidence in global markets which...

Pound to Canadian Dollar: No deal Brexit probability damaging Sterling value The pound to Canadian dollar exchange rate has been suffering lately as the market continues to price in the possibility of the no-deal Brexit taking place on the 31st October. Expectations are mixed for the outcome on Brexit. Nothing is completely set in stone, but the market is becoming more and more of the opinion a no-deal Brexit will take place. What this means for GBP/CAD exchange rates is that as the uncertainty around a...

This morning, the pound to Canadian dollar exchange rate weakened following the UK's GBP economic data release, shocking the markets and resulting in a weaker pound as the financial markets digest the news. UK GDP figures below market predictions Gross Domestic Product (GDP) for the 2nd quarter of 2019, which was expected to show 0% growth has dipped below market expectations and the figure released this morning shows that the UK economy contracted by 0.2% during this time. This is the first contraction since 2012 and...