Canadian Dollar Suffers Seven-Week Low Following the Spread of the Coronavirus

Pound to Canadian Dollar Outlook: Collapse in Oil Prices Will Keep CAD Subdued Up...

In another week dominated by coronavirus news headlines, the Canadian dollar fared worse once more against the pound as falling oil prices kept the oil-sensitive currency under severe pressure. With Saudi Arabia launching an oil price war with Russia; selling oil at bottom rates in order to capture the market as global demand falls amidst the coronavirus crisis. Meanwhile, for the pound, investors were disappointed in the UK government’s lack of action last week concerning the coronavirus containment efforts. Towards the end of the week,...
Pound Sterling Forecast - Where Next for Sterling?

Pound Sterling Forecast – Will GBP rise or fall in June?

The pound weakened in May as the continued uncertainty over the economic effects of the Coronavirus weighed on the UK both politically and economically. The outlook for the UK has been tainted by the Coronavirus with the UK slightly behind the curve of many other countries who are gently opening borders and allowing freer movement of people and business. The UK Government has spent billions on a furlough scheme which whilst providing some temporary relief is also perhaps just papering over some significant cracks in...
Pound to Euro – High Volatility Expected in Weeks Ahead

Pound to Euro – High Volatility Expected in Weeks Ahead

The pound to euro and pound to US dollar remains on a weaker footing with Brexit and COVID-19 continuing to act as the principle drivers. The pound to Euro rate nonetheless rallied higher to a high point of 1.1259 yesterday and 1.2363 for the pound to dollar. The movements follow intense media interest over the Bank holiday weekend surrounding the Prime Minister’s chief adviser Dominic Cummings and whether in the eyes of the law he broke lockdown rules when travelling from London to Durham....
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

Have We Seen the Worst For The Pound as The Bounce Bank Continues Against...

As the UK government continues to take control by forcing the nation into total lockdown, limiting the majority of movements for the 66 million in the UK, only allowing keyworkers out of their home while everyone else are only allowed out for visits to the supermarket and short periods of exercise. These moves coming around 2-3 weeks behind the rest of Europe seem to be giving confidence to market that the UK now has some degree of confidence in the spread of COVID-19. This has...
Brexit and Coronavirus Weigh on GBP as Oil Price Collapse Causes CAD Value to Fall

Pound to Canadian Dollar Exchange Rate: CAD Firmed as GBP Sunk on BoE Outlook...

Into the last trading day of the week, the Canadian dollar firmed on Thursday as investors welcomed moves made by the Canadian government and central bank which helped to reassure flighty markets overnight. But the currency may still be at risk of declines up ahead. Meanwhile, Sterling remained under pressure as the market scrutinised recent comments from the Bank of England’s governor Andrew Bailey who hinted that the central bank may have to step in regarding GBP’s recent underperformance against nearly all rivals of...
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

Pound to Canadian Dollar Exchange Rate: CAD Slides on Oil Price Drop as UK...

Heading into mid-week, the Canadian currency remains under significant pressure from falling oil prices. As has been the case for much of the recent weeks, the price of oil has held back the oil-correlated currency as the world faces an onslaught from the coronavirus outbreak. Being linked to risk has also done the Canadian dollar little favours as global risk sentiment remains at rock-bottom. Meanwhile, in the UK, the January unemployment figures were released yesterday. The report showed a rise in unemployment in the...
Pound to Euro Under Brexit Spotlight

Pound to Euro Under Brexit Spotlight

The UK and EU will begin their 4th and final round of Brexit talks tomorrow before the UK must decide whether to request an extension to the current transition period, which is due to end on the 31st January 2021. Previous negotiations between the UK and EU have seen little progress with both the UK and EU refusing to compromise on their red lines. Whilst the UK has until November this year to agree a trade deal with the EU, the UK only has...
Canadian Dollar Saved by Inflation Target Being Met but Outlook Looks Worrying

Pound to Canadian Dollar Outlook – How will the Coronavirus affect the GBPCAD Exchange...

The pound to Canadian dollar has experienced some intense volatility owing to the Coronavirus, as we have seen the rate fluctuating quite sharply and suddenly, ranging from 1.6585 to 1.7997 on the interbank rate in the last month. This excessive volatility of 14 cents is the result of fears and concerns relating to the COVID-19 virus and the potential influence on the global economy ahead. The Canadian dollar had initially lost ground as investor’s worries over the price of oil had been a key...
GBPCAD Rate Update: Oil Prices Fall, Along With UK Construction Output

Pound Sterling to Canadian Dollar Exchange Rate Forecast: GBPCAD Spike ad Oil Price Drops...

Pound to Euro Canadian dollar exchange rates have tested a two-week high as investors fears over a falling oil price combine with some slightly better sentiment towards the pound. GBPCAD has been choppy in recent weeks as the market scrambles to understand the impact s of COVID-19 and the implications for the global economy. The price of Oil has dropped to an 18-year low, below $20 / barrel, which has put pressure on the Canadian currency as it relies on its exports of Oil as...
How Is COVID-19 Effecting GBP to CAD Exchange Rate?

How Is COVID-19 Effecting GBP to CAD Exchange Rate?

In times of global economic uncertainty Sterling usually does not fair well due to our imports far outweighing our exports. On top of the Coronavirus situation we also have Brexit to contend with. There is a complete lack of clarity surrounding trade and it seems unlikely we will have a solution by the end of the year. Boris Johnson has stated on many an occasion he intends to get a deal done by the end of 2020. One of the biggest concerns for investors is...