GBPEUR rate remains steady as markets await the Autumn Budget

Will the GBP/CAD exchange rate fall as low as 1.50? (Joseph Wright)

With GBP/CAD trading at a 3 year low around the 1.61 mark and a number of issues, mostly Brexit related, applying pressure to the Pound I think it's likely that we'll see further Sterling weakness as opposed to a recovery. With numerous prominent European figures coming out and reiterating their preference for a 'Hard Brexit' whereby the UK loses access to the single market, and the EU's policy of free movement of people isn't affected, the likelihood of a sudden Sterling rebound is becoming all...
Pound to Canadian Dollar exchange rate forecast Will GBPCAD rates fall further?

Pound to Canadian dollar rates ahead of Parliamentary votes on Brexit

Pound to Canadian dollar rates face a volatile few days ahead as developments over Brexit continue to drive the GBP to CAD pair. Today the Speaker in the House of Commons will choose from a series of amendments that have been put forward for Parliament to vote on. There are two amendments in particular that are likely to attract attention from the markets. The Yvette Cooper / Nicholas Boles amendment which seeks to delay Article 50 could take a no deal Brexit scenario off the...
GBPEUR rate remains steady as markets await the Autumn Budget

GBP/CAD Rates Fall as Brexit Fears Grow – UK Budget Update (Matthew Vassallo)

GBP/CAD rates have fallen this week, as Brexit fears grow amongst investors. The pair have fallen towards 1.63, with Sterling showing little signs of a sustained recovery ahead of the triggering of Article 50 later this month. The Pound has taken a hit across the board, despite reports that today’s UK budget will carry an upbeat tone. UK Chancellor Phillip Hammond is expected to outline a substantial “Brexit” fund of up to 60bn, which will be a safety net for the UK should economic developments go...
Pound to Canadian Dollar exchange rate falls ahead of new UK Prime Minister

Pound to Canadian Dollar exchange rates undercut thanks to Bank of England intervention (Joshua...

Pound to Canadian Dollar exchange rates have been hit with some serious losses yesterday following a concerned line of argument taken by the Bank of England during yesterday's monthly monetary policy statement. The Bank created an awkward situation whereby their future forecasts did not align with current data. Growth is strong in many key sectors and consumer activity is still showing resilience despite the recent shock of the Brexit vote. Houses are still being bought, and prices are still rising, showing a robust stance to the...
GBPEUR rate remains steady as markets await the Autumn Budget

Referendum and Oil Causing CAD Volatility

The bookies have cut the odds on a Leave victory in the Referendum after more polls point towards a potential Brexit. Like most major currencies, the CAD has been able to make major gains against Sterling of the back of the volatility. No doubt as we move close to the vote I would not be surprised to see GBP/CAD slip under the 1.80 mark. Whilst the Referendum has caused plenty of volatility for the rate, CAD’s main influencer is the price of Oil. Canada’s main...
Pound to Canadian Dollar forecast CAD closing in on a two year high against GBP

The pound has taken a fall lower against the Canadian dollar throughout this week largely as a result of the latest polls in the UK referendum on EU membership which have put the Leave campaign in front as per two polls published in the Guardian. A YouGov poll has put both campaigns neck and neck at 41% of the vote each. Considering how much ground the pound has lost this week against all of the major currencies it highlights how much of an impact...
GBP to CAD woes continue Could this month see the pair reach a 2 year low?

Further Oil slides weaken CAD

The Canadian Dollar has come under further pressure through the day's trading. Oil prices continued to fall as a panicking market is selling off any securities and futures they are holding, causing CAD value to suffer. Since 'Black Monday', and the subsequent yo-yo-ing of the stock market which proved it was not just a 'blip' or an 'anomaly', investors have been panicking about sudden falls in the value of their holdings. As a result, many are selling off futures, one of the principle futures being...
Trade Deficit Falls, but does not match expectations

Pound to Canadian dollar forecast: Could GBP/CAD rates rise further?

The pound to Canadian dollar exchange rate has moved higher with the latest news that there is now less chance of a no-deal Brexit. Clients with a position to buy or sell the Loonie dollar, against the pound could be in for a very volatile month as the market weighs up some key points of interest, notably Brexit, the Trade Wars and also a volatile price of Oil. GBP/CAD rate fluctuates with Oil prices and global trade Oil is a key commodity for the Canadian economy,...

Will the Bank of England cut interest rates this week and the impact for...

The Bank of England are due to meet tomorrow at 12pm and the expectation is that we'll see an interest rate cut from 0.5% to 0.25%. The alternative is that we may see the central bank decide to increase the amount of Quantitative Easing or even a combination of both. When this happened previously Sterling fell very quickly against all major currencies including the Canadian Dollar and if we see an interest rate cut this would be the first time the Bank of England has chosen...
Pound to Canadian dollar predictions: What to expect this month

CAD Boosted By Oil Gains And USD/GBP Weakness (Joseph Wright)

The Canadian Dollar spiked upwards yesterday for a number of reasons, gaining just under 2% against the US Dollar and over half a per cent against the British Pound. As many readers will already be aware, the Canadian Dollar is heavily pegged against the value of oil as Canada is one of the world’s largest exporters of oil, therefore big swings in its value can have a profound effect on the value of the Loonie (Canadian Dollar). Yesterday the value of oil was boosted after...