Pound to Canadian Dollar forecast Brexit news continues to dominate movement for the GBPCAD exchange rate

Canadian Exchange Rates ahead of Canadian Retail Sales

The Canadian dollar has come under considerable pressure of late which has presented those clients looking to buy Canadian dollars with some much better opportunities to purchase. Canadian dollar exchange rates have fallen largely as a result of the breakdown in the North American Free Trade Agreement (NAFTA) which is creating additional uncertainty for the Canadian economy. US President Donald Trump has Rates of exchange for GBP CAD are at the highest levels seen since last May with levels sitting above 1.75 for this...
The Canadian Dollar Has Enough Resilience to Set Its Own Path in Monetary Policy

GBP CAD before UK Budget (James Lovick)

The pound has continued to gradually slide lower against the Canadian dollar as Brexit developments continue to drive exchange rates. Sterling exchange rates are likely to see considerable volatility both today and tomorrow. This evening will see a vote in the House of Lords over a proposed amendment to the Brexit bill that will seek that a final vote on the terms of Brexit will be offered to Parliament. This is likely to become a sticking point which could see the Brexit timetable delayed. A...
GBP/CAD rate slides as both currencies weaken and upcoming week’s data likely to shift exchange rate

CAD Weakness on Falling Oil Price

The Canadian dollar fell against the US dollar yesterday on the back of falling oil prices which slipped on yesterday’s markets. Oil is one of Canada’s biggest exports so any drop in the price usually has a direct negative impact on the Canadian dollar. Canadian Gross Domestic Product (GDP) numbers are released tomorrow and are likely to be scrutinised by the Bank of Canada which has been forced to take a more dovish stance of late. A strong figure would be welcome news for the...
The GBP/CAD exchange rate struggles as UK labour market slows

Global trade wars continue to impact the commodity-based CAD

The CAD was under some pressure yesterday, as concerns over a global trade war continue to grow. Investors have been shying away from the commodity-based currencies such as the CAD, with the Canadian economy heavily reliant on a thriving global market. President Trump’s traded tariffs on China and the EU seem to have started a trade war, which has now resulted in US motorcycle manufacturer Harley Davidson announcing that it will move the production of its motorcycles outside of the US. This is due to the...
Pound to Canadian Dollar forecast Brexit news continues to dominate movement for the GBPCAD exchange rate

Pound hits lowest point against the Canadian Dollar since January

The Pound has been heading in a downwards direction vs the Canadian Dollar over the last few days as the price of Crude Oil has been rising recently hitting as high as USD $75 per barrel. During the last week the price of a barrel has risen by $3 and as the commodity is the biggest export for the country this has really provided the Canadian Dollar with a big boost against a number of different currencies including vs the Pound. Tomorrow we could be in...
Pound to Canadian Dollar Forecast Steady Tone for the Canadian Dollar Ahead of Key Domestic Data Due This Week

Can the Canadian dollar hold onto its recent NAFTA gains?

The Canadian dollar has strengthened quite considerably over the past few weeks, both on hopes of the NAFTA deal being agreed and then subsequently on the news of the new arrangement. NAFTA stands for the North American Free Trade Agreement, and it had been in place since 1996, although the current US President Donald Trump had stated his wish to amend the agreement on numerous occasions. The new agreement is now in place between the US, Canada and Mexico and it will now be known...
Pound to Canadian Dollar predictions: Factors that will impact Pound to Canadian Dollar exchange rates

Canadian Exchange Rates Ahead of Bank of Canada Statement

GBP CAD exchange rates have fallen dramatically following the Bank of England interest rate decision to raise interest rates yesterday and have failed to bounce back today. Anyone looking to sell Canadian dollars for pounds have been presented with an excellent opportunity which came as a surprise to the markets. The fact that interest rates are now not likely to be rising again anytime soon should keep pressure on GBP CAD especially considering the ongoing Brexit negotiations where progress is slow. The Canadian dollar had...
Canadian Dollar Saved by Inflation Target Being Met but Outlook Looks Worrying

Will 1.72 act as a resistance for GBP/CAD rate once again?

The Pound is having a upward push this week against a raft of major currency pairs, owing to positive sentiment surrounding the Brexit once again. Yesterday we saw the GBP/CAD rate break into the 1.72's and this morning the pair is once again trading in the 1.72's after falling as low as 1.7176 in the early hours of trading. Those of our readers watching the Pound to Canadian Dollar rate will be aware that the pair have struggled to break north of 1.72 previously, with...
Pound to Canadian Dollar forecast Brexit news continues to dominate movement for the GBPCAD exchange rate

Markets poised for Brexit ‘Plan B’ and Canadian Retail Sales figures next to impact...

Today U.K Prime Minister Theresa May is due to deliver her Brexit 'plan B' to Parliament and this could lead to a volatile trading day for Sterling exchange rates against all major currencies. It is widely expected that she will make slight alterations to her approach with the Irish border backstop which had been one of the main sticking points with the current plan. In my opinion it really is hard to see how the latest plan will turn enough heads to get voted through on...
What will happen to the Pound Sterling to Euro exchange rate as 29th March approaches? Brexit latest

GBP to CAD forecast: Turbulent day of trading as Brexit deal is rejected again

UK Prime Minister, Theresa May lost a second vote on her Brexit deal last night, despite getting more support for the deal this time around. Previously she lost by a record margin of 230 votes in January, and yesterday she failed to gain the support of hard line Brexiteers and the DUP Party of Northern Ireland which props up her Government. GBP exchange rates are having a busy week across the board, as the markets continue to digest the updates and also attempt to second...