GBPCAD

Bank of Canada interest rate decision today The Sterling to Canadian Dollar exchange rate is currently sat just below the 1.70 mark at the time of writing this post, as the markets try to second guess the next news on Brexit and the tone of the Bank of Canada in the BOC interest rate decision, which is due out later on today. Expectations are that the Bank of Canada may not make a move to hike interest rates this month, or possibly even next, this is...

Brexit continues to hurt the Pound In this GBP to CAD forecast we look at the events that could impact the pound to swiss franc rates in the short-term. The GBP/CAD rate continues to be dictated by Brexit. The current situation is bleak and it does not bode well for the Pound. Theresa May's current Brexit deal is due to be voted on by Parliament on 11th December. The PM's proposal has come under heavy criticism and at present it looks as though the deal...

The economy in Canada has been going rather well recently with investment in business increasing, trade tensions easing and consumer spending also improving. However, at the moment we could see some concerns coming up for the Canadian Dollar as we could see problems coming for both the oil and automotive industry. Oil and the automotive industry are Canada's two biggest economies so a slow down in both industries could have a negative impact on the value of the Canadian Dollar. Last week General Motor Company announced plans...

Both the pound and the Canadian dollar are coming under pressure at the moment for differing reasons, and this is leaving the GBP/CAD pair with a lack of direction. It's likely to be the weaker of the two that cause a substantial change in direction for GBP/CAD as the rate has remained around its current level since the middle of the month. The issues surrounding the UK's future trading relationship with the EU post Brexit and the UK Prime Minister's difficulties in gathering support for...

In today's GBP to CAD forecast we look at what's ahead for the currency pair. The Canadian dollar strengthened against most major currencies yesterday as oil prices recovered some of the losses we saw last week. Regular readers will be aware that Canada exports many commodities and oil is arguable the most important. If we continue to see oil prices rise in the upcoming days, I expect to see CAD continue to make gains against most major currencies. Bank of Canada not expected to raise...

Brexit deal approved by the European Union In our latest Pound to Canadian Dollar forecast we discuss the news released over the weekend that the European Union has confirmed in just less than an hour that they have agreed the draft Brexit deal proposed by Prime Minister Theresa May. After eighteen months since Article 50 was originally triggered the Pound has been under a huge amount of pressure and this is expected to continue over the next few months until we get a clearer picture as...

Pound to Canadian dollar rates have fallen below 1.70 as continued uncertainty over Brexit in these final stages puts pressure on the pound. The final text on the political declaration for the future relationship between Britain and the EU is being finalised now but is receiving strong criticism domestically in the UK. There are approximately 70 MPs who have stated they will vote against the Brexit deal in its current form which leaves a cloudy outlook for the pound to Canadian dollar rate. Is...

GBP to CAD forecast GBP to CAD rates continue to be dictated largely by Brexit. Following Theresa May's preliminary deal with Brussels Sterling has taking a significant hit against the majority of major currencies. The deal has been heavily criticised by British MPs and has resulted in several high profile resignations, most notably UK Chief Brexit Negotiator Dominic Raab. Following this Jacob Rees-Mogg urged MPs to put forward a vote of no confidence in Theresa May. 48 letters of no confidence must be handed to the...

Many of our regular readers will have started to become sick of the word Brexit a long time ago, however at present for those looking to buy or sell foreign currency in the coming weeks and months I am afraid you will be hearing it more and more often. Last week Brexit was the main driver for the Pound against the Canadian Dollar, and it even managed to lead to Sterling losing ground against the Canadian Dollar whilst we saw a decline in the price...

Brexit continues to dominate GBP/CAD value The preliminary Brexit deal agreed with Brussels has come under heavy criticism and several high profile resignations has caused investors to lose further confidence in the pound. Chief Brexit Negotiator, Dominic Rabb was the most influential resignation which was a huge blow to Theresa May and Jacob Rees-Mogg has now called for a vote of no confidence. Due to the resignations and the many different contenders for May's position the odds seem stacked against the pound. GBP to CAD forecast The GBP to...