Canadian economic data to influence direction of GBP/CAD rates

Canadian economic data to influence direction of GBP/CAD rates

This week is an important week for Canadian dollar exchange rates as Consumer Price Index numbers which cover October and November are set to be released on Wednesday. Forecasters are suggesting that the number will ultimately dictate whether the central bank decide to raise interest rates in January or hold off until Q2 of next year. The consensus at present is for November's figure to fall to -0.2% from 0.3% and yearly figures to fall to 1.9% from 2.4%. If this materialises I expect CAD to...
Sterling drops against the Canadian Dollar as pressure mounts on Theresa May

Brexit vote cancelled – Sterling drops against the Canadian Dollar as pressure mounts on...

The Pound has had a bad start against all major currencies this week along with losing ground against the Canadian Dollar. Yesterday Prime Minister Theresa May suffered a barrage of difficult questions at the House of Commons as she made the move to postpone her crucial Parliament vote regarding the Brexit deal that she has managed to negotiate. Prime Minister May will head back to Brussels to renegotiate, however it is hard to see her making enough progress to be able to satisfy those that are...
Next week could be busy for GBP/CAD exchange rates

Next week could be busy for GBP/CAD exchange rates

With the Pound to Canadian Dollar exchange rate currently trading within very thin ranges, I personally think this could be the calm before the storm as investors and financial markets await the outcome of next Tuesday's key vote with the House of Parliament. Despite all indicators pointing to a loss for UK Prime Minister, Theresa May regarding her Brexit plan that has already been agreed in principle by the 27 EU leaders, May must now convince MPs between now and the 11th that her deal...
Interest rate decision for Canada

Sterling to Candian Dollar exchange rate news – Bank of Canada interest rate decision...

Bank of Canada interest rate decision today The Sterling to Canadian Dollar exchange rate is currently sat just below the 1.70 mark at the time of writing this post, as the markets try to second guess the next news on Brexit and the tone of the Bank of Canada in the BOC interest rate decision, which is due out later on today. Expectations are that the Bank of Canada may not make a move to hike interest rates this month, or possibly even next, this is...
GBP to CAD forecast: Brexit uncertainty continues to hit Sterling

GBP to CAD forecast: Brexit uncertainty continues to hit Sterling

Brexit continues to hurt the Pound In this GBP to CAD forecast we look at the events that could impact the pound to swiss franc rates in the short-term. The GBP/CAD rate continues to be dictated by Brexit. The current situation is bleak and it does not bode well for the Pound. Theresa May's current Brexit deal is due to be voted on by Parliament on 11th December. The PM's proposal has come under heavy criticism and at present it looks as though the deal...
Pound unsteady against the Canadian Dollar as Brexit vote just a week away

Pound unsteady against the Canadian Dollar as Brexit vote just a week away

The economy in Canada has been going rather well recently with investment in business increasing, trade tensions easing and consumer spending also improving. However, at the moment we could see some concerns coming up for the Canadian Dollar as we could see problems coming for both the oil and automotive industry. Oil and the automotive industry are Canada's two biggest economies so a slow down in both industries could have a negative impact on the value of the Canadian Dollar. Last week General Motor Company announced plans...
How will the GBP/CAD rate perform in 2019?

GBP/CAD looks for direction as the pair continue to hover at 1.70

Both the pound and the Canadian dollar are coming under pressure at the moment for differing reasons, and this is leaving the GBP/CAD pair with a lack of direction. It's likely to be the weaker of the two that cause a substantial change in direction for GBP/CAD as the rate has remained around its current level since the middle of the month. The issues surrounding the UK's future trading relationship with the EU post Brexit and the UK Prime Minister's difficulties in gathering support for...
Pound to Canadian Dollar Forecast: GBP/CAD rate nudges 3 month highs

GBP to CAD forecast: Canadian dollar strengthens due to oil prices

In today's GBP to CAD forecast we look at what's ahead for the currency pair. The Canadian dollar strengthened against most major currencies yesterday as oil prices recovered some of the losses we saw last week. Regular readers will be aware that Canada exports many commodities and oil is arguable the most important. If we continue to see oil prices rise in the upcoming days, I expect to see CAD continue to make gains against most major currencies. Bank of Canada not expected to raise...
Pound to Canadian Dollar Forecast: Impact of the EU Summit Deal

Pound to Canadian Dollar Forecast: Impact of the EU Summit Deal

Brexit deal approved by the European Union In our latest Pound to Canadian Dollar forecast we discuss the news released over the weekend that the European Union has confirmed in just less than an hour that they have agreed the draft Brexit deal proposed by Prime Minister Theresa May. After eighteen months since Article 50 was originally triggered the Pound has been under a huge amount of pressure and this is expected to continue over the next few months until we get a clearer picture as...
Pound to Canadian Dollar rates as Brexit Political Declaration Negotiated

Pound to Canadian Dollar rates as Brexit Political Declaration Negotiated

Pound to Canadian dollar rates have fallen below 1.70 as continued uncertainty over Brexit in these final stages puts pressure on the pound. The final text on the political declaration for the future relationship between Britain and the EU is being finalised now but is receiving strong criticism domestically in the UK. There are approximately 70 MPs who have stated they will vote against the Brexit deal in its current form which leaves a cloudy outlook for the pound to Canadian dollar rate. Is...