Brexit news and Canadian Unemployment to impact Pound Canadian Dollar rates

Brexit news and Canadian Unemployment to impact Pound Canadian Dollar rates

The Pound has been making some solid gains vs the Canadian Dollar in recent weeks as commodity prices globally have been falling. Oil prices have started to drop off and with the ongoing Trade Wars between the US and China this has caused a knock on effect on any commodity based currencies including the Canadian Dollar. The US Federal Reserve also raised interest rates for the final time of 2018 at the end of last year, which now makes bond yields in the US very...
How will the GBP/CAD rate perform in 2019?

How will the GBP/CAD rate perform in 2019?

The GBP/CAD rate has been rather volatile as we end 2018, losing ground as the price of Oil struggles and sterling feels the force of the general market dissatisfaction over Brexit. Expectations for the pound and Canadian dollar could be rather mixed in 2019, as both currencies struggle under the weight of the various challenges. For the UK it is clear Brexit is a cause of market displeasure, not knowing what the final outcome will be from the UK's withdrawal from its biggest trading partner....
Pound to Canadian Dollar Forecast: GBP/CAD rate nudges 3 month highs

Pound to Canadian dollar forecast: GBP/CAD rate nudges 3 month highs

In this pound to Canadian dollar forecast we discuss the GBP/CAD exchange rate which has risen recently as weakness in the Canadian economy and a lower price of Oil all weighed on the Loonie dollar. Economic news released this week showed that Inflation was slightly lower than expected, making it less likely the Bank of Canada will need to raise interest rates again so soon. The Bank of Canada has been a little more cautious of late with the global economy struggling to make sense...
Pound to Canadian Dollar Strength as Oil Price Plummets

Pound to Canadian Dollar Strength as Oil Price Plummets

Pound to Canadian dollar exchange rates have rallied this week after a sudden drop in the price of oil which fell by over 7% on Tuesday. With global production presently increasing this is forcing the price of oil lower which is having a negative impact on the Canadian dollar which is a commodity currency. With the US now producing vast amounts of shale this is also helping to weaken the price of oil. As Canada is a major exporter of oil a lower price...
GBP to CAD forecast: Brexit Fears Helping to Support CAD Value

GBP to CAD forecast: Brexit Fears Helping to Support CAD Value

Sterling has climbed away from last week’s low against the CAD, with the pair once again trading back above 1.70. This will feel like a small victory for many clients looking to execute a GBP to CAD exchange over the coming days, considering at last week’s low the Pound had fallen below 1.68. The recovery came in line with Theresa may withstanding a vote of no confidence by her own Tory party. However, with a Brexit deal seemingly no closer and more public spats between the...
Canadian economic data to influence direction of GBP/CAD rates

Canadian economic data to influence direction of GBP/CAD rates

This week is an important week for Canadian dollar exchange rates as Consumer Price Index numbers which cover October and November are set to be released on Wednesday. Forecasters are suggesting that the number will ultimately dictate whether the central bank decide to raise interest rates in January or hold off until Q2 of next year. The consensus at present is for November's figure to fall to -0.2% from 0.3% and yearly figures to fall to 1.9% from 2.4%. If this materialises I expect CAD to...
GBP/CAD Rates Fall after Disappointing Outcome at EU Summit for British PM

GBP/CAD Rates Fall after Disappointing Outcome at EU Summit for British PM

Pound to Canadian dollar exchange rates have slipped lower as Brexit uncertainty continues to drive the price of sterling. UK Prime Minister Theresa May was in Brussels yesterday for the EU summit, seeking concessions or reassurances over the Irish backstop which has proved to be the most contentious of issues. The response from the EU however was not in the Prime Minster's favour having stated that the withdrawal agreement is not to be reopened for renegotiation. Theresa May made a special plea last night to get...
GBP/CAD Forecast: Pound to Canadian rates volatile on Oil and Brexit

GBP/CAD Forecast: Pound to Canadian rates volatile on Oil and Brexit

Pound to Canadian dollar exchange rates have been rather volatile as the market tries to second guess the potential outcomes from the various events that are driving the prices of these currencies. The main driver has been the vote of no confidence and news this week which saw Theresa May postponing her 'meaningful vote' on her Brexit plan. Pound to Canadian dollar rates could remain in the 1.60s if Theresa May loses the vote since many of the candidates who might wish to take her...
Sterling drops against the Canadian Dollar as pressure mounts on Theresa May

Brexit vote cancelled – Sterling drops against the Canadian Dollar as pressure mounts on...

The Pound has had a bad start against all major currencies this week along with losing ground against the Canadian Dollar. Yesterday Prime Minister Theresa May suffered a barrage of difficult questions at the House of Commons as she made the move to postpone her crucial Parliament vote regarding the Brexit deal that she has managed to negotiate. Prime Minister May will head back to Brussels to renegotiate, however it is hard to see her making enough progress to be able to satisfy those that are...
Next week could be busy for GBP/CAD exchange rates

Next week could be busy for GBP/CAD exchange rates

With the Pound to Canadian Dollar exchange rate currently trading within very thin ranges, I personally think this could be the calm before the storm as investors and financial markets await the outcome of next Tuesday's key vote with the House of Parliament. Despite all indicators pointing to a loss for UK Prime Minister, Theresa May regarding her Brexit plan that has already been agreed in principle by the 27 EU leaders, May must now convince MPs between now and the 11th that her deal...