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

GBPCAD rates near 3 month highs, will it keep rising?

The pound to Canadian dollar has been rising owing to optimism over Brexit and also expectations of trouble ahead for the US economy. The US dollar has been sold off massively lately and this is also weighing on the Canadian currency too since the CAD loosely tracks the US. Current concerns over the US centre around just how likely any interest rate hikes will be in the future, closely linked to the fears surrounding US Inflation expectations. Having risen so sharply only recently, we have...

US Interest Rate Decision, EU Withdrawal Bill and Canada awarded the World Cup for...

The good news to come out of Canada this afternoon is that they alongside the US and Mexico have been awarded the World Cup in 2026 after the vote was announced in Moscow earlier today. This is great news for the country and football fans alike but with Donald Trump saying that there needs to be changes to the NAFTA agreement it is rather ironic that the three countries have agreed and been pitching for a long time to host the World Cup together in...
Sterling drops against the Canadian Dollar as pressure mounts on Theresa May

NAFTA talks drag on which causes the Canadian Dollar to weaken against the Pound

The Canadian Dollar has once again come under pressure against the Pound as the three countries involved in the NAFTA negotiations are not close to a deal yet. US Congress appears to be running out of time at the moment in order to approve a new deal and with the Mexican election just over 3 weeks away I think it will be difficult to get things organised in the short term and this uncertainty is causing a problem for the Canadian Dollar. According to one source...
GBP CAD Rates Boosted on Brexit Hopes

Sterling hits best rate to buy Canadian Dollars in 21 months (Tom Holian)

The Canadian Dollar has continued to weaken across the board hitting fresh lows against Sterling during the course of this week. The Loonie has fallen after Bank of Canada Governor Stephen Poloz suggested that further interest rate hikes may come slower in order to allow the economy to grow without causing inflationary pressures. The Canadian Dollar has struggled a lot in the last few months partly triggered by the ongoing uncertainty caused by the NAFTA talks which are still far from being sorted. Fears of a trade...

NAFTA discussions cause problems for the Canadian Dollar vs the Pound (Tom Holian)

Although Sterling has been struggling during the last fortnight against a number of currencies owing to the political uncertainty caused by the ongoing saga of the Brexit the Pound has remained very strong vs the Canadian Dollar. The Canadian economy is heavily influenced by what happens with their relationship south of the border and although the US economy is performing very well and oil prices have been rising the Canadian Dollar has still weakened. The problems with the NAFTA deal are still not yet resolved and...
GBP/CAD Rates Fall after Disappointing Outcome at EU Summit for British PM

Could the Pound hit 1.80 against the Canadian Dollar? (Tom Holian)

The Pound has continued to remain strong against the Canadian Dollar recently as the NAFTA deal is still causing uncertainty between the US and Canada. This has been going on for months and although there were some positive comments earlier this month it is still far from getting resolved. Indeed, the Canadian Dollar is now close to a three year low against the US Dollar and we are getting close to pre-referendum rates for GBPCAD exchange rates. The problem with NAFTA is that Canada exports...

NAFTA Deal and the impact on Sterling vs Canadian Dollar exchange rates (Tom Holian)

The North Atlantic Free Trade Agreement has been a hot topic over the last few months and the uncertainty surrounding the issue has caused the Canadian Dollar to weaken recently. US President Donald Trump has stated in the deal 'Canada has treated us very, very unfairly when it comes to lumber and timber.' However, Trade Chief Robert Lighthizer has said that things are progressing and 'we're making real headway.' Trump has been very outspoken about the trade deal but Lighthizer appears to be a lot...
GBP/CAD Rates Fall after Disappointing Outcome at EU Summit for British PM

Canadain dollar value set to fall

The Canadian dollar has lost ground today off the back of oil prices taking a tumble. Oil is Canada's largest export and there is a direct correlation between oil and the price of the Canadian dollar. However its not oil prices that I would be concerned about if needed to convert Canadian dollars into a foreign currency anytime soon. The Canadian people should be keeping a close eye on US President Donald Trump as the President has been making it clear that he plans to...
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...
GBPEUR rate remains steady as markets await the Autumn Budget

Will the Pound continue to climb vs the Canadian Dollar, and what factors could...

The Pound has been climbing against all major currency pairs recently, after sentiment has improved surrounding the UK economy quite dramatically in recent weeks. It seemed to get a shot in arm a few weeks back when both Spain and the Netherlands announced that they want post-Brexit conditions to remain conducive to business continuing as normal. Since then hopes of a transitional deal have increased with some major media outlets in the UK jumping the gun and announcing that the deal and the conditions involved had...