Pound Stronger vs Canadian Dollar this Morning

GBPCAD falls because of UK economic data (Dayle Littlejohn)

Since the start of the week GBPCAD has dropped from 1.7230 to 1.7030. This makes a 200,000 Canadian Dollar purchase £1,350 more expensive. Yesterday morning the UK had another poor run of economic data. Yearly and monthly manufacturing numbers for June were released worse than expected. Furthermore Goods trade balance and Trade balance for Non EU showed a decline. It just shows the 'Brexit' is having a detrimental impact on the UK economy consequently the pound could devalue in the future. In the afternoon the National Institute of Economic...
Pound Stronger vs Canadian Dollar this Morning

Canadian Dollar Boosted on Bank of Canada Outlook

The Canadian dollar has received a boost after Bank of Canada governor Stephen Poloz hinted at further interest rate increases after he said that wage growth is forecast to start rising which would be seen as good for the Canadian economy. However he highlighted that the ongoing NAFTA negotiations are holding back the Bank of Canada from making any sudden decisions as uncertainty still remains. There is some hope that a deal will be arranged and there is pressure from Mexico to have this wrapped...
Canadian Dollar Suffers Seven-Week Low Following the Spread of the Coronavirus

Canadian Dollar Falls as NAFTA is Not a Done Deal

The Pound has made material gains against the Canadian Dollar this week as uncertainty over NAFTA drags the Canadian Dollar lower. With the US preparing to sign an agreement with Mexico but without Canada this is creating an uncertain period for Canadian Dollar exchange rates. Rates for GBP CAD have now broken through 1.70 this morning creating a good opportunity for those clients looking buy Canadian Dollars with Pounds after what has been a torrid couple of weeks for the Pound. The NAFTA uncertainty is...
Pound to Dollar Rate Pushed Higher by Risk-on Mood

GBP/CAD back above 2.0!

GBP/CAD rates have recovered slightly overnight with the news that oil prices dipped marginally after their recent one month highs on the markets. Like currency movements, oil prices were never meant to move in a straight line. It seems that US stocks of Crude Oil did continue to increase even though production has decreased now that shale and fracking has become less economical. This indicated that demand had fallen slightly as well. With the Canadian Dollar so heavily tied to the value of the oil price,...
GBPEUR Showing Weakness Despite Strong Data

Buying Canadian Dollar rates suddenly appealing following US election (Joshua Privett)

Buying Canadian Dollar rates saw a roller-coaster on the currency markets yesterday following the announcement of Donald Trump as the 45th President of the United States. The relationship and confidence in the US Dollar has significant ripple effects throughout the currency markets, particularly on commodity based currencies such as the Canadian Dollar. A lack of confidence in the currency which underpins most of the world's global debt and is attached to the world's largest economy normally translates into associated weakness in the Canadian Dollar. As a commodity...
Canadian Dollar Could See Increased Support if Deal is Agreed at Oil Company Summit

Canadian Dollar Could See Increased Support if Deal is Agreed at Oil Company Summit

Sterling is not considered the destination of choice during times of global economic uncertainty. The amount the UK import compares to export is huge and as such makes the currency fragile in these unprecedented times. We also have Brexit to contend with and at present there has been no confirmed extension past 2020 which leaves the chance of a no deal still on the table which does not sit well with investors. If an extension is announced we could see sterling strengthen. Boris Johnson...
Canadian Dollar Saved by Inflation Target Being Met but Outlook Looks Worrying

Pound to Canadian dollar exchange rate forecast: Will GBP/CAD rates rise or fall in...

The pound to Canadian dollar is now trending higher as the pound finds some value on expectations that there might well be some progress between the Conservative and Labour Parties cross-party Brexit talks. There has been an increased expectation too that the Bank of Canada could be scaling back their plans to raise interest rates for the future. GBP/CAD rates close to year highs The pound to Canadian dollar rate is very close to some of the best levels we have had all year, presenting some...
GBPEUR Showing Weakness Despite Strong Data

Election day – will Sterling maintain its 4 cent rise over the past week...

Here we are, on of the most important elections in UK history, and anyone with a Canadian Dollar buying requirement using Sterling (GBP/CAD), or Sterling buying requirement using Canadian Dollars (CAD/GBP) should be watching very closely. The impact for this particular election on the value of the Pound is arguably more significant than others of its kind. The impact is not just on policy for the next four years, but has a heavy bearing on how Brexit negotiations will be handled and what the aims...
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

Will GBPCAD levels remain above 1.70?

There is a growing concern for the outlook on the pound to Canadian dollar exchange rate as the market struggles to price in a number of concerns relating to Trade Wars and the global economic outlook. Expectations are for an increasingly volatile period as investors try to second guess the future direction on both Brexit and these trade disputes. Another global factor has been the price of oil which has fallen to below $70 a barrel on news that there has been a large increase...
Gbp to Cad Exchange Rate Hits a 1-Month High as Risk Appetite Returns to Global Markets

What issues could impact the Pound to Canadian Dollar rate? (Joseph Wright)

The Pound has gained almost 10 cents against the Canadian Dollar in just the last 2-weeks, as the Pound continues to rise on the back of the election called by Theresa May, the UK Prime Minister. I expect the election and speculation surrounding it to impact Sterling exchange rates over the next few months, due to the differing plans and outlooks from the UK political parties regarding the Brexit. As it stands the conservatives are favorites to win come the election in June, and that...