Interest rate decision for Canada

Pound hits best rate to buy Canadian Dollar since May 2017 (Tom Holian)

The Pound has hit the best rate to buy Canadian Dollars since last May with the Canadian Dollar weakening in part due to the uncertainty surrounding NATFA. The US Dollar has also weakened to its lowest level against the Pound since the Brexit vote back in June 2016 and this has also caused the Canadian Dollar to weaken vs Sterling. The US Treasury Secretary Steven Mnuchin has been suggesting that the US is welcoming a weaker Dollar which is turn is also weakening the CAD vs...
Sterling drops against the Canadian Dollar as pressure mounts on Theresa May

Important Canadian Data due out this afternoon to impact GBPCAD exchange rates (Tom Holian)

The Pound has dropped below 1.70 to buy Canadian Dollars after a poor start to the year for the Pound. Sterling exchange rates across the board have been under pressure and this has been particularly evident against the Canadian Dollar which has strengthened over the last few weeks owing to the rise in oil prices. As Canada is such a huge oil producing nation the rise in value of the price per barrel will often help to strengthen the Canadian Dollar vs Sterling. Later this afternoon Canada...
Canadian economic data to influence direction of GBP/CAD rates

Quiet end to the year for the Pound vs the Canadian Dollar? (Tom Holian)

The Pound vs the Canadian Dollar has remained in a very tight range during the course of the week as the festive season draws ever closer. With few economic data releases coming in the short term I think we could see GBPCAD exchange rates remain in a very tight range until the end of the year which means if you're comfortable with exchanging money at these levels it may be worth getting things organised. The Pound has generally speaking had quite a positive year against the...

The impact of a US interest rate hike on the Canadian Dollar (Tom Holian)

In just a few hours time the US Federal Reserve are likely to be increasing interest rates for the third and final time this year. This will be Janet Yellen's final monetary policy conference before she leaves in February and it would be a major surprise if no rate hike occurs. The Bank of Canada have kept interest rates on hold on the previous occasion but it may not be too long before they have to look at their own monetary policy in the months ahead. As...
GBPEUR rate remains steady as markets await the Autumn Budget

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...
GBP to CAD Rates Slip after Strong Week

GBPCAD exchange rates forecast

At present GBPCAD exchange rates are being dictated by events in the UK. The spotlight is certainly shining on UK Prime Minister Theresa May as reports were leaked 5 days ago suggesting 40 Conservative MPs plan to  sign a vote of no confidence in the Prime Minister. For this to materialise there will need to be 48 members that sign the bill. In addition pressure is mounting on all involved with the Brexit negotiations as head Eu negotiator Michel Barnier gave 2 week deadline to the...
GBPEUR rate remains steady as markets await the Autumn Budget

Will uncertainty surrounding the UK government push the Pound lower? (Joseph Wright)

The Pound to Canadian Dollar rate, despite trading within quite a wide range over the past year is actually flat on an annualised basis, after the Pound has lost quite a lot of value in recent weeks due to mounting pressure on the UK's Prime Minister. There are apparently dozens of Conservative MP's that are prepared to sign a vote of no-confidence against the current PM which is putting pressure on the Pounds value, and recently it's fallen against the majority of major currency pairs. At...
GBPEUR rate remains steady as markets await the Autumn Budget

Could the Pound make further gains vs the Canadian Dollar? (Tom Holian)

Sterling vs the Canadian Dollar has had a strong period towards the end of the week with UK economic data all coming out a lot better than expected which has helped to see the Pound make gains vs the Canadian Dollar. We began Friday morning with stronger than expected UK Industrial & Manufacturing data which gave the Pound a boost against all major currencies including vs the Canadian Dollar. With the Brexit talks currently being held in preparation for the next summit due to be held...

GBP CAD Rallies on Positive Brexit Noises from EU

GBP CAD exchange rates have risen today despite a poorer weak for UK economic data which had resulted in a slide for sterling across all of the major currencies. The pound has rallied today on the back of some better news coming from the EU with regards Brexit. The pound has been weaker as result of uncertainty as to whether or not the Bank of England will raise interest rates at the November 2nd meeting. UN inflation may have reached a very high 3% this...

Sterling boosted on talk of a potential 2-year transition period, will GBP/CAD continue to...

The Pound traded in quite a volatile fashion yesterday after a number of mixed messages were sent by key Brexit personnel. The end of the 5th round of Brexit negotiations lead the UK's Brexit Secretary, David Davis to offer his views on how negotiations are going so far, and he was fairly upbeat. This was in contrast with his European counterpart, Michel Barnier who in contrast appears frustrated at how the talks are progressing, and this lead the Pound to fall. The International Monetary Funds managing...