Pound to Canadian Dollar Outlook: CAD to Continue Oil Price Weakness with BoC Rate Decision Up Ahead

Pound to Canadian dollar predictions: Will GBP recover against CAD?

Over the last 4 weeks the pound has declined against most major currencies, including the Canadian dollar. In 4 weeks, mid market exchange rates have dropped 3 1/2 cents making a $300,000 Candadian dollar purchase £4,400 more expensive. The pound has been declining ever since the UK accepted the 6 month extension of Article 50. This just shows UK businesses are crying out for certainty and a 6 month extension could be damaging to UK economic data. However Canada has problems of it's own. This...

GBP/CAD rates tumble

It seems that the post yesterday was right to stress caution and avoid gambling with the data released on UK interest rates. In the UK the decision on interest rates is conducted by the 9 members of the Bank of England Board, and a majority of 5 is necessary for an amendment to the base rate. It was widely expected that 2 or 3 of the members would vote for a rate hike, getting us on the cusp of a majority after months where it was...
Canadian Dollar Suffers Seven-Week Low Following the Spread of the Coronavirus

GBP/CAD Forecast – What Affect will the Triggering of Article 50 have? (Matthew Vassallo)

It’s been an extremely volatile few days for GBP/CAD exchange rates, with the pair falling towards 1.63 on Monday. The Pound staged a fightback yesterday, following confirmation that the UK Prime Minister Theresa May now has the authority to trigger Article 50 at any time. This helped boost Sterling’s value, with the pair now trading around 1.6450. However, there is still uncertainty over when the bill will actually be invoked and as such I feel the current strength is likely to be unstainable in the short-term....
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

Brexit Negotiations Could Halt Sterling’s Rise (Matthew Vassallo)

Sterling has made gains against the CAD over the past few weeks, with the pair now trading above 1.77. The Pound has enjoyed a positive run off the back of a run of solid economic data and global concerns around falling oil process. The price of crude oil has fallen to a five-month low, which is likely to have a negative effect on Canada’s export driven economy. With Oil being their main export any downturn has an instant negative effect on their economy and the CAD...
Pound Sterling Forecast – Could the Pound Fall Lower Still?

Could the Pound hit 1.70 vs the Canadian Dollar? (Tom Holian)

Sterling vs the Canadian Dollar is now trading close to its best level to buy Canadian Dollars since early November following the release of today's Autumn Statement by Chancellor Philip Hammond. The Pound has been making progress towards 1.70 but has not yet been able to make a sustained berate of this level highlighting the resistance at this particular exchange rate. The price of crude oil is now at a 2 year high of USD$58 per barrel which typically would be a good thing for the...
Will today's cabinet meeting result in a clearer path to Brexit?

GBP/CAD rates: Will today’s Cabinet meeting result in a clearer path to Brexit?

Last night's round of indicative votes once again failed to result in a clear majority favouring a particular option for the UK's departure from the EU. There have now been 3 failed attempts at a meaningful vote and 12 failed indicative votes which has resulted in a Brexit deadlock at the time of the expected departure date which passed last Friday. Last night there were 4 different Brexit options voted on. The results were closer than the last set of indicative votes but still failing...
How Is COVID-19 Effecting GBP to CAD Exchange Rate?

GBPCAD hits 1.70!

The pound to Canadian dollar rate has risen to 1.70 as investors gently stepped back from a slightly less hawkish BoC (Bank of Canada) yesterday. With no further hike as expected and a less strong commentary around the pursuit of further hikes the Loonie slipped in afternoon trading. This process had already been given a kick start earlier in the day by the ONS (Office of National Statistics) releasing data showing the UK economy growing at 0.4% giving the pound a much needed boost....
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

Pound to Canadian Dollar Exchange Rate: CAD Slides on Oil Price Drop as UK...

Heading into mid-week, the Canadian currency remains under significant pressure from falling oil prices. As has been the case for much of the recent weeks, the price of oil has held back the oil-correlated currency as the world faces an onslaught from the coronavirus outbreak. Being linked to risk has also done the Canadian dollar little favours as global risk sentiment remains at rock-bottom. Meanwhile, in the UK, the January unemployment figures were released yesterday. The report showed a rise in unemployment in the...
Pound Sterling Forecast – Could the Pound Fall Lower Still?

GBP CAD Rallies on EU Discussion on Future Trade

GBP CAD exchange rates have seen a volatile week largely as a result of the ongoing Brexit developments which have had a direct and substantial impact on the price of sterling. The pound has made gains against the Canadian dollar after it was reported late yesterday that the European Union would now start discussions about a future trade agreement between Britain and the EU but without Britain. The news was received extremely well with sterling making gains across the board. GBP CAD now sits...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

Could GBPCAD break into the 1.70s before the referendum? (Dayle Littlejohn)

With the UKs referendum in regards to EU membership only 8 days away the golden question is how far will the Pound fall against the Canadian dollar? Come June 23rd I wouldn't be surprised to see GBPCAD in the 1.79s and then depending on the outcome rates could fall further or increase back towards 2. Today the UK release their latest Interest Rate decision. There has been speculation if the UK were to leave the European Union the Bank of England would be forced to cut...