GBPCAD

The pound found some support last week following losses of 2.5 percent against most major currencies in the week before. The pound to euro and pound to dollar rate remained largely rangebound throughout with both currency pairs closing the week at similar rates to where they began. Following the Bank Holiday weekend, this week will be a short one, and sterling has started the day slightly higher with pound to euro trading at 1.1211 and pound to dollar trading at 1.2262. However, despite some respite for...

Last week wasn’t the best week for the pound with sterling finishing lower against pretty much all the majors. GBPUSD interbank rates started last week at 1.2430 before slipping to 1.2114 Friday, and GBPEUR began the week at 1.1454 before slipping to 1.1193 on the interbank rate by the end of the week. Two of the key reasons were the struggling of the Brexit talks with the UK openly attacking the EU’s approach, and also poor UK economic growth figures showing the UK is likely...

Sterling exchange rates have lost a little ground against most major currencies over the course of the trading week, most notably hitting a 5 week low against the Dollar during yesterday’s afternoon trading session. It seems that global sentiment is starting to slip again, and fears of a second wave of COVID-19 along with a major global recession are leading investors to batten down the hatches and take cover which is leading to some Sterling weakness. For those that were following Sterling exchange rates...

Sterling made good solid gains against the Canadian dollar during yesterday’s trading session, and has started on the front foot in early morning trading so far today. Over the course of yesterday the pound gained 1.35% against the Canadian dollar and so far this morning we have seen gains of a further 0.4% at the time of writing this article, bringing the interbank exchange rate up above 1.76. With the current trend for GBP/CAD there is now a possibility that we may see the interbank...

GBPCAD has remained rangebound for some time and has failed to make a significant break up or down. The currency pair is currently trading at 1.7280, which is only 0.5 per cent lower than 1 month ago and whilst there have been fluctuations in the interim, movement has been limited. Yesterday, UK coronavirus cases surpassed 165,000 and the death toll tipped 26,000. The UK death toll is now only behind that of the US and Italy, a worrying sign for the UK government. Boris Johnson has...

The pound to Canadian dollar exchange rate continues to see considerable volatility after lockdown measures were introduced and the price of oil continues to fluctuate in these uncertain times. The Canadian dollar has started to strengthen again as countries throughout the world begin to ease their lockdown measures. Italy and New Zealand have announced easing measures whilst Spain and France also are preparing to reignite their economies. The improved outlook for the time being tends to help the Canadian dollar which is a commodity...

The Canadian dollar is considered a riskier, commodity-based currency. Canada’s primary export is oil and with the price war ongoing between the world’s biggest producers it is causing CAD to remain vulnerable. It seems inevitable that there will have to be some kind of reconciliation as their product is now worthless and it is now becoming apparent there are no longer enough storage facilities to house the excess oil. Oil Prices and Lockdowns Affecting GBPCAD Rates It is worrying to think where sterling maybe sitting against...

The pound to Canadian dollar interbank exchange rate has been trading slightly higher in the last couple of days on the back of oil price concerns in Canada, and we have seen it range between a low of 1.7356 and 1.74. UK services and manufacturing purchasing managers index came in markedly lower than expected at 12.3 versus a forecast 29.0 and 32.9 against a forecast 42.0. respectively UK Confederation of British Industry industrial trends came in lower than expected at -56 versus a forecast -52....

Due to the global pandemic of the Corvid-19 virus at the moment, one of the key topics within the financial world, Brexit, has taken a backseat recently. Fears are mounting though regarding this matter, as the UK is expected to leave the EU at the end of the year. There had been hopes from both the UK and the EU that negotiations would be ongoing this year, to ensure a smooth departure. The coronavirus has since taken centre stage with countires rushing to find a...

It has been a particularly testing week for Canadian dollar exchange rates with the Loonie hitting multi-week lows against the Euro and the US Dollar as a result on the ongoing oil crisis. Indeed with oil inventories pilling up around the globe as the coronavirus continues to sap demand, US and Canadian Crude fell to record lows, leading to a hefty sell off in Canadian dollars as investors positioned themselves on safer commodities. Historically the Pound too would have typically managed to capitalise on Canadian...