GBPCAD Exchange Rate on the Rise with Brexit Party Ruling Out Tory Seat Contention

GBPCAD Exchange Rate on the Rise with Brexit Party Ruling Out Tory Seat Contention

The GBPCAD interbank exchange rate has been volatile of late, mainly due to the uncertainties surrounding Brexit. Recent revelations from the Brexit Party have given the GBPCAD exchange rate a lift as they announced they will not be contesting for Conservative seats in the upcoming election Brexit party announces Leave alliance With Nigel Farage, the leader of the Brexit Party announcing that the party will not battle for the 317 Conservative seats which were won in 2017, the Conservatives will be puffing a huge sigh of...
GBP/CAD rate slides as both currencies weaken and upcoming week’s data likely to shift exchange rate

GBP/CAD rate slides as both currencies weaken and upcoming week’s data likely to shift...

Both the United Kingdom and Canada have been facing issues with their currencies recently. Reports have suggested that both currencies are declining which is having a knock-on effect to their interacting exchange rate. The GBP interbank exchange CAD rate was trending at around 1.6863 at the end of last Friday’s trading session, not great by any stretch but at least it allowed for the gains observed in late-October to be clung to. GBP weakens as uncertainties persist The British pound is being held back by it's...
Sterling remains steady in early trading as details of the Brexit extension are announced

Positive outlook for the Canadian Dollar following trade deal progress and GBP optimism

The Canadian dollar has fared well over the past week, with Thursday reporting back with positive results. Progress in the US-China trade talks are giving a boost to CAD, whilst the relationship with GBP seems on course for a new high since March 2019. US-China trade deal talks begin to pick up the pace The ongoing trade deal talks between the United States and China have a lot riding on them, both for the two countries involved but for the whole global economy. Talks appeared to...
Global Economic Slowdown Lends Itself to near a One Month Low for the Canadian Dollar

Optimism for the Canadian dollar begins to fade in recent developments

Recent optimism in the CAD has heavily relied on the broad US dollar sentiment. This weeks “risk seeking” environment was pulled to a sharp close following the rebound in US Non-manufacturing Purchasing Manager’s Index (PMI) data which was released on Tuesday. Over-performing US PMI data hits hard on CAD The data released by the US this Tuesday saw the index rise to 54.7, smashing a predicted 53.5 and bettering Septembers result of 52.6 The news gave the USD backing and the greenback rallied eventually closing out...
Canadian Dollar exchange rate reaches new weekly high as US-China trade hopes lift

Canadian Dollar exchange rate reaches new weekly high as US-China trade hopes lift

If you are in the market for buying or selling Canadian dollars you might be in luck. The CAD rose to a near one-week high against the USD yesterday, with current USD/CAD rates sitting 1.31603. Data from reports showed that Canada’s trade deficit narrowed alongside a promising trade deal between the United States and China, which made investors more optimistic. Current state of the CAD The Canadian dollar is currently sitting at around 1.319. The currency reached is strongest intraday rate since the end of October...
Pound to Canadian Dollar forecast 3 political events to know about before swapping Canadian Dollars for Pounds

Pound to Canadian Dollar forecast: 3 political events to know about before swapping Canadian...

You may consider yourself a savvy buyer, especially in the currency purchasing market. But there can sometimes be unseen news or recent events which may alter the going rate of your chosen currency. The Canadian dollar shares a relationship with the British pound amongst many other currencies. This relationship is altered based on many factors, some in which may determine a great time for you to buy Sterling or show signs that it may be right to hold off a little before departing with your...
GBP/CAD rate slides as both currencies weaken and upcoming week’s data likely to shift exchange rate

What Brexit means for the CAD to GBP forecast

Being the 7th most traded currency in the world, The Canadian dollar (CAD) is in contention for many traders and buyers alike. Many currencies interact with each other and the pairing between the GBP and CAD is no different. With Brexit talks firmly ongoing, the effect it has had on the CAD/GBP pairing is substantial. Analysts and buyers are keeping a close eye on the events of Brexit and what it may mean for the GBP and currencies that overlap with it. Brexit’s unpredictable volatility There...
Pound to Canadian Dollar outlook: Will GBP/CAD rise or fall on the UK election?

Pound to Canadian Dollar outlook: Will GBP/CAD rise or fall on the UK election?

Sterling supported by Brexit extension The pound to Canadian dollar exchange rate has been rising and falling along with the sentiments on Brexit, notably the prospect of a no-deal exit for the UK. This element had been majorly holding back the pound in recent weeks, as investors feared that the UK might be leaving the EU on Halloween with no-deal. More recently, sterling has been rising as investors become more confident over the extension which has now been agreed. We are also awaiting further details regarding...
GBP to CAD forecast Will the Bank of Canada keep interest rates on hold?

GBP to CAD forecast: Will the Bank of Canada keep interest rates on hold?

Bank of Canada expected to keep interest rates on hold The Bank of Canada continues to buck the trend in the face of global interest rate cuts and are widely expected to keep interest rates steady at 1.75pc late this afternoon. The Canadian economy continues to be buoyed by a robust domestic employment market and investor optimism that a long-awaited trade deal may be forthcoming between the US and China in the coming weeks. As a commodity-linked currency, the Canadian dollar will benefit from a...
The GBP/CAD exchange rate struggles as UK labour market slows

Pound to Canadian Dollar forecast: General Election could weaken Sterling

Brexit extension agreed Sterling remains fragile due to the lack of clarity surrounding Brexit. We are now looking at a "flextension" until 31st January, but if a deal can be secured it can be done so before the 31st January. Boris Johnson's deal came close to approval, but he has now had to pull the deal off the table in order to push forward with a general election. This does not mean that the majority of the deal would not come back to the table at...