Pound Stronger vs Canadian Dollar this Morning

GBP/CAD rises against oil prices

Just one day after the election the rally for the Canadian Dollar following the installation of a majority government is already over, and GBP/CAD is near 2.01 on the markets. GBP/CAD Rates have rallied in the short term with the eventual introduction of Iranian oil into the marketplace, which has lowered its price due to increased supply, in-turn weakening the value of the Canadian Dollar. All eyes are now looking forward to the Bank of Canada interest rate decision today. This will set the tone for the next month...
GBPCAD Rates: Lack of Faith in the Pound Highlighted by Oil Crisis?

CAD rates- Election focus

With little data to be released today it's unlikely we will be seeing much movement on CAD value. USD/CAD rates may see some movement as North-American markets open for trading in the morning with the release of retail sales data in the US, which normally has quite a sway on US Dollar value. Should the data set come in poorly, the CAD with gain against the USD, and likely get a secondary bump against its other currency pairings as capital moves out of the...
Light at the End of the COVID-19 Tunnel Aids the Pound

Sterling vs Canadian Dollar hits 15 month low but for how long? (Tom Holian)

This week Sterling has fallen to its lowest level against the Canadian Dollar after the price of Brent crude oil rose to over US$46 per barrel. As such a big net exporter of oil which is its biggest industry any price increase will often help to strengthen the Canadian Dollar exchange rate. Oil production in Kuwait appears to have ground to a halt after oil workers protested against government cutbacks so less supply caused the spike in the cost per barrel. Tomorrow afternoon could provide us with...
Canadian Dollar Saved by Inflation Target Being Met but Outlook Looks Worrying

Sterling set to remain fragile against the Canadian Dollar as oil prices rise

Boris remains front runner in leadership contest Pound to Canadian dollar exchange rates have dropped recently, with the pound suffering against the majority of major currencies of late. The UK currently has no Prime Minister and Brexit remains in limbo offering investors little confidence in GBP. It is looking highly likely that Boris will come into power and has stated he will be using the no deal scenario as ammunition to negotiate a more favourable deal from Brussels. It would be expected the higher the probability...
Gbp to Cad Exchange Rate Hits a 1-Month High as Risk Appetite Returns to Global Markets

GBP/CAD Rates Fall after Disappointing Outcome at EU Summit for British PM

Pound to Canadian dollar exchange rates have slipped lower as Brexit uncertainty continues to drive the price of sterling. UK Prime Minister Theresa May was in Brussels yesterday for the EU summit, seeking concessions or reassurances over the Irish backstop which has proved to be the most contentious of issues. The response from the EU however was not in the Prime Minster's favour having stated that the withdrawal agreement is not to be reopened for renegotiation. Theresa May made a special plea last night to get...
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

Sterling rallys against the Canadian Dollar following inflation data release (Daniel Johnson)

Will Sterling gains be short lived against CAD? Sterling has strengthen against the Canadian dollar following a a rise in UK inflation. GBP/CAD now sits above 1.61.  The reason for the rise for Sterling was Consumer Price Index (CPI) data. CPI is a measure of inflation, if provides a comparison in price changes on goods and services. It is a key barometer as to the health of the UK economy. Inflation is a serious concern for the UK and is a direct result of Brexit. The...
Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

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...
Light at the End of the COVID-19 Tunnel Aids the Pound

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...
GBP/CAD rate slides as both currencies weaken and upcoming week’s data likely to shift exchange rate

Pound to Canadian Dollar Exchange Rates Continue to Fall Lower – Brexit Continues

The pound to Canadian dollar exchange rate has fallen sharply since the beginning of May which has presented those looking to sell Canadian dollars to buy pounds with a good opportunity. Rates for GBP vs CAD now sit at the lowest levels since October 2017. Much of the fall in GBP/CAD rates has stemmed from the resignation of UK Prime Minster Theresa May and the likelihood that Boris Johnson will become the next Prime Minister. Conservative hopefuls Boris Johnson and Jeremy Hunt continue to battle...
Pound Sterling Moves Higher Against the Canadian Dollar on Oil Price Concerns

Stronger Canadian Dollar as oil price strengthens, will the strong run for oil help...

The Loonie (Canadian Dollar) has begun the week in strong fashion after gaining on the US Dollar during today's trading session. After a few very strong weeks for the Greenback (US Dollar) it's currently heading for its 4th successive day of losses, with some believing that the bull run for the US Dollar is running out of steam. One of the main reasons for CAD's strength apart from benefiting from the weaker Dollar is the stronger oil price. It's been increasing in value recently for a...