Sterling Under Pressure Ahead of UK General Election (Matthew Vassallo)

Sterling has seen some of its recent losses against the CAD reversed over recent days, although the general trend has been a negative one of late. The CAD gained approximately six cents at its high last month, with GBP/CAD rates tumbling below 1.72. Despite Sterling clawing back some of these losses (current trade prices around 1.74), I believe investor confidence in the Uk economy remains extremely fragile and a sustainable increase in value for Sterling remains optimistic at best. The CAD is likely to find some support...
GBP EUR Exchange Rate: Weekly Review December 4th  

BOC rate hikes demonstrate the health of the Canadian Economy (Daniel Johnson)

Two Interest Rate Hikes in a row from the BOC The Canadian economy  has been going from strength to strength of late, with strong economic data in nearly all areas. Oil is Canada's primary export and with the OPEC deal restraining over supply this bodes well for Canada. The  Bank of Canada (BOC) has now raised interest rates consecutively, this is extremely rare and shows the strength of the Canadian economy. BOE rate hike rumours based on misinterpreted data? We have seen  Sterling strengthen over the Canadian...
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

Canadian Dollar week-long gains

The Canadian Dollar has had its most positive week in months, even with an election on the horizon which normally makes investors reluctant to get involved with the currency in question due to the uncertainty on its future financial policy. The first boost was this weeks rise in oil price by more than 2.5% following the announcement of reduced drilling output for the US, as the prolonged low oil price has made their shale oil uneconomical to produce. As a major exporter the value of...
GBP EUR Recovers from Early Losses on EU Trade

Canadian Dollar loses value due to Trump Tariff (Daniel Johnson)

Lumber Tariff weakens the Canadian Dollar The Canadian dollar has lost ground against Sterling following Trump's decision to impose tariffs on lumber exports from Canada. The dairy trade dispute has escalated.  There is a new Canadian milk policy which US producers are unhappy with stating it violates the North Atlantic Free Trade Agreement (NAFTA). The US have responded by putting in place anti-subsidy tariffs of nearly 20% on lumber imports. Lumber has been a matter of contention between the the two since the 80s. Canada...
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

When is the best time to buy Canadian dollars?

The pound to Canadian dollar exchange rate had been improving at a rapid pace, improving in 2018 by over 14 cents presenting some of the best rates to buy Canadian dollars since the Referendum. The overall expectations for the pound are to see further improvements as we get further clarification on the Brexit and also interest rates. The Canadian dollar has been strengthening owing to the rising price of oil which has seen the Canadian dollar strengthen owing to oil being one of its major exports. The...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

What next for the Canadian dollar?

The Canadian dollar rises and fall according to sentiments on the Canadian economy which are largely driven by the price of Oil, Canada has the third largest reserves of Oil coming behind Saudi Arabia and Venezuela. The Canadian Oil and Energy Industry is highly developed and accounts for 10% of Canadian GDP. This means as the price of Oil rises and the Canadian dollar is strong, when the price of Oil falls the Canadian dollar weakens. Lately a big driver on the GBPCAD rate...
Pound to Dollar Rate Pushed Higher by Risk-on Mood

CAD loses ground against all major currencies yesterday with falling oil prices

The losses were slight but widespread. Most were expecting a rise in crude oil prices yesterday as crude oil stocks had dropped for an 8th week in a row, suggesting a removal of the oil glut and an increase in demand. However, this was matched by record output in the U.S of 9.6m barrels per day. So while the U.S. market was increasing it seems they will likely be buying their own stock rather than adding to demand for the overseas markets, which is...
Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

Could further Interest Rates be on the cards from the Bank of Canada? (Daniel...

Is CAD destined for further gains against Sterling? The Canadian Dollar has strengthened significantly against the pound following the recent interest hike from 0.5% to 0.75%.  We have recently seen a rise in Consumer Price Index (CPI) data. CPI measures changes in the price level of a basket of goods and services purchased by households, it is a key measure of inflation. This was one of the catalysts for the Canadian dollar strengthening over Sterling now GBP/CAD sits in the 1.60s. The best levels for Canadian...

Strong retail data sees GBP/CAD rates tumble!

CAD strengthened yesterday following the surprising growth in their retail sales sector. In a single month the sector grew by 1%, half of which was a growth in car sales due to cheap fuel. Due to the further worsening of oil prices, many who were waiting to buy a car could move on this, because they were more confident with handling the long-term costs involved. Specifically concerning GBP/CAD rates, this was a fantastic day for CAD sellers. While the Canadian retail sector expanded, the opposite...
GBPCAD Rates: Lack of Faith in the Pound Highlighted by Oil Crisis?

Pound to Canadian Dollar exchange rate forecast: How will GBP/CAD rates perform ahead?

The Canadian dollar is this year's best performing G10 currency, as reported by Reuters yesterday. It is probably not too surprising therefore that as sterling has been one of the worst performing, pound to Canadian dollar exchange rates have been testing 2-year lows, hitting points not seen since October 2017. What events are upcoming that might change the current trend? Brexit developments to drive Sterling exchange rates Sterling has been weaker on Brexit uncertainties, as investors await clear news on what Brexit means. The pound has...