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

Oil Price Slump and Over Supply Concerns Back Again (Ben Fletcher)

The GBP/CAD rate is slowly on the rise as Sterling finds a little strength along with the CAD struggling with external pressures. The CAD is heavily associated with the price of Oil and is very much at the mercy of the market movements. The price of a barrel of oil having previously jumped above the $50 mark has fallen to a 3 month low and is residing below the $45 level. The reason for the drop has once again been attributed to the oversupply of...
Pound to Canadian Dollar outlook Will Sterling struggle against the Canadian Dollar?

The Trump influence on the Canadian Dollar (Tom Holian)

With Donald Trump now having been fully inaugurated into the White House and now one of the most powerful people in the world we are set for some interesting times ahead. His speech yesterday focused on getting control back of US finances which comes as no real surprise but it could be very interesting to see what happens to the Canadian Dollar. The Canadian economy is extremely reliant on the US and approximately 75% of its business is done with its southern neighbour. However, I think we...
GBP EUR Looks to Employment Figures for Support

BOC Moneatry Policy decisions shows a strong eonomic back bone for Canada (Daniel Johnson)

Who is making the correct moves for their economy the BOE or the BOC? There is little data of consequence released form both Canada and the UK this week. To put it bluntly I'm am of the opinion the Canadian economy is looking far healthier than the UK's. We have seen two consecutive rate hikes from Canada in a row. A rarity from a central bank. It shows real faith in economic growth. Mark Carney, the governor of the Bank of England (BOE) has recently hinted...
Brexit and Coronavirus Weigh on GBP as Oil Price Collapse Causes CAD Value to Fall

What can we expect next on the Canadian dollar to pounds exchange rate?

Market predictions are firmly focused on the upcoming UK Referendum due on the 23rd June but there are other events around to take stock of. From the Canadian dollar side the price of Oil is a huge factor in determining how the currency will perform. The market will be looking for clues from economic activity as to what they can expect in the future from Oil markets. Essentially an improving price of Oil is good for the Canadian dollar since it indicates that the...
GBP EUR Looks to Employment Figures for Support

Buying Canadian Dollars – Sterling Strength

The pound is edging higher against the Canadian dollar having seen an excellent few days. The question now is whether we see a return to $2 like we have seen against the Australian dollar, another commodity currency. The pound has been supported on stronger unemployment data and the accompanying wage growth numbers which are keenly eyed by the Bank of England. The rise in wages is a sign of inflation to come and the Bank of England will be ready to take action when...
Brexit and Coronavirus Weigh on GBP as Oil Price Collapse Causes CAD Value to Fall

GBP/CAD flat with both currencies weakening (Joshua Privett)

Sterling is down against all major currencies today with GBP/CAD being the only exception. News that foreign investors are pulling out of the UK steel industry is essentially being seen as a vote of no-confidence by the international community that the UK economy will be seeing a turnaround anytime soon. As a result the average drops on the Pound against most major currencies has been about 1% each day. The only reason that GBP/CAD rates have only seen minor drops is that the drop of oil prices...
Sterling Forecast: Pound rises as Theresa May enters her possible breakthrough day

Pound vs Canadian dollar forecast – When to trade?

Brexit continues to dominate pound to Canadian dollar rates Brexit news is constantly effecting Sterling value with each statement in the process causing volatility on the market. We saw significant gains for the pound last week following news that the UK were on the cusp of a Brexit deal. News that the UK financial sector would have access to the customs union was one of the key points of contention, this bolstered the pound's position. However, the Irish border deal remains unresolved. Following a spike in the...
GBP EUR Exchange Rate Trading at a Key Level

Sterling Gains on CAD Despite Oil Talks

Canada’s biggest export oil is the main driver of currency movements for the Canadian Dollar and recent meetings between oil producing nations helped the CAD gain. Russia and Saudi Arabia have agreed cooperate with one another to curtail the overproduction of oil. The price of Oil has struggled to rise above the $50 a barrel mark as there is so much supply currently available. Saudi Arabia is able to produce oil at one of the lowest costs so they have still been profitable despite...
GBP EUR Looks to Employment Figures for Support

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

Strong GBP Prepares for Defining Week with General Election Whilst Canadian Dollar Digests Poor...

The GBP ended trading last week in a strong position. Markets were confident that Boris Johnson and his Conservative party is very likely to pull off a majority win in the elections. But the Pound could soften in the days running up to the election as doubt creeps in. Meanwhile, the Canadian Dollar is still attempting to digest recent poor economic data, namely the November jobs report. Pound Could Soften Early This Week as Doubt Sets in Ahead of the Election For the GBP, this week...