The Canadian Dollar Has Enough Resilience to Set Its Own Path in Monetary Policy

Cad trading below 1.70 against GBP as Brexit uncertainty continues

The Canadian dollar has performed well over the past week against sterling, moving back below 1.70 following a run of positive economic data. Positive outlook for the Canadian dollar The pair currently trading just 1.69, with the CAD cementing these gains at the end of last week following positive employment data. This positive run of economic data releases has justified the Bank of Canada’s recent optimism, with the loonie seemingly being backed by investors as a result of this positive outlook. With Unemployment in Canada hitting fresh...

Another Volatile Day for GBP/CAD Exchange Rates! (Matthew Vassallo)

It’s been another volatile day for GBP/CAD exchange rates, with approximately two and a half cents movement on the pair during Thursday’s trading. Sterling received a welcome boost this morning following apparent comments made by Boris Johnson, regarding the free movement of people within the UK following our upcoming Brexit. This immediately gave the Pound a boost, with GBP/CAD rates hitting 1.6980 at today’s high. Johnson was quick to speak out against this and claimed he had in fact never made the statement and the...
GBPEUR rate remains steady as markets await the Autumn Budget

Pound falls against the Canadian Dollar owing to US Jobs Report (Tom Holian)

The Canadian Dollar rate vs the Pound has strengthened towards the end of the week after the US economy posted better than expected jobs data for July. A total of 209,000 new jobs were created last month and the unemployment rate also hit the lowest number since 2001. Both the US Dollar as well as the Canadian Dollar have gained towards the end of the week owing to the news. After having a slow start to the week the Canadian Dollar has ended the week on...
GBPEUR rate remains steady as markets await the Autumn Budget

Sterling Makes Gains Against CAD – Markets Brace Themselves for Article 50

Sterling has made gains against the CAD during the early part of the trading week, with the pair moving through 1.67 at the high. The Pound has performed well against most of the major currencies this week but the gains made against the Loonie were more pronounced due to the steep drop in oil prices recently. Crude oil is Canada’s main export, so any slowdown in this sector generally coincides with a drop in the CAD’s value and as such the Pound could make a...
GBPCAD Exchange Rate on the Rise with Brexit Party Ruling Out Tory Seat Contention

GBP/CAD Rates Marooned Under 1.75 (Matthew Vassallo)

GBP/CAD rates remain marooned under 1.75 on the exchange, with the Pound struggling to continue its recent advances. The pair are current trading around 1.73 but despite yesterday’s better than expected UK Gross Domestic Product (GDP) figures, Sterling struggled to sustain this improvement. The UK economy remains extremely fragile in the eyes of investors and I cannot see any major improvement until we have a clearer picture of how, and when the UK intends to facilitate its exit from the EU. We also have...
GBPCAD Exchange Rate on the Rise with Brexit Party Ruling Out Tory Seat Contention

GBP/CAD rate: Sterling comes under pressure owing to Brexit deal concerns

The Pound has fallen against the Canadian Dollar (the GBP/CAD rate is 1.6868 at the time of writing this), as the reaction to Theresa May's Brexit text has been mostly negative, with both Brexiteers and Remainers demonstrating their disappointment of May's plan. So far the UK Prime Minister has remained firm in her conviction that the deal is the best way for the UK to proceed with its EU divorce. However, the concerns remain and there could be further Government resignations today or early into...
Pound to Canadian Dollar exchange rate Global trade tensions and Brexit to drive GBPCAD rates

Hurricane Irma causes the Canadian Dollar to weaken against the Pound (Tom Holian)

The Pound has made some significant gains vs the Canadian Dollar towards the end of this week. Earlier in the week the Pound fell against the Canadian Dollar after the Canadian central bank announced a surprise interest rate hike which saw the GBPCAD exchange rate hit its lowest level since January. The Canadian Dollar has weakened during the end of the week as the markets hold their breath to see how Hurricane Irma may affect the US. Owing to its geographical proximity to the US anything that...
GBPEUR rate remains steady as markets await the Autumn Budget

Brexit still key factor in GBP/CAD buoyancy levels (Daniel Johnson)

Brexit Update Theresa May has warned the House of Lords that if Parliament have the opportunity to have the final say on Brexit it could be detrimental to the deal struck. If parliament are given the right to vote it would give EU negotiators further strength. Many peers at The House of Lords are expected to move against May's wishes and demand that parliament will get to vote on the final bill. May's spokesman has stated "If we are in a position where any deal negotiated by...
GBPCAD Exchange Rate on the Rise with Brexit Party Ruling Out Tory Seat Contention

Will the Pound have a positive end to the week against the Canadian Dollar?

In the last few days the Canadian Dollar has improved against the Pound after the Bank of England decided to once again keep interest rates on hold. The split was 7-2 in favour of keeping rates the same which came as no surprise but the real surprise was a huge downgrading of the UK's growth forecasts for 2018. Previously in February the forecast for this year was 1.8% but since then the forecast was now been changed to 1.4% and this caused a big sell...
GBPEUR rate remains steady as markets await the Autumn Budget

Mixed day for Canadian Dollar buying rates (Joshua Privett)

The Canadian Dollar has had a volatile day with a difference of 1.5 cents between the high and the low. Yet GBP/CAD exchange rates are still moving slightly above and below the 1.88 mark - so little net change throughout the day. There are combination of weakening factors for both the Pound and the Canadian Dollar which are evening out the rates of exchange currently. The Pound has weakened due to the high profile resignation of a member of the Government's Cabinet. His reasoning was intially...