GBPEUR rate remains steady as markets await the Autumn Budget

Why did the Canadian Dollar fall when interest rates were hiked? (Joseph Wright)

Yesterday the Bank of Canada chose to raise interest rates for the third time in the last year. The interest rate now sits at 1.25% and those that decide on making the decision to change interest rates have stated that this decision can be put down to increasing inflation levels, and an a strong Canadian economy. Many economists and market traders had predicted the move and the Loonie had been increasing in the lead up to the decision, and once it was made official many took...
GBP/CAD Forecast: Pound to Canadian rates volatile on Oil and Brexit

Canadian Dollar drops in line with oil weakness, will GBP/CAD continue to climb? (Joseph...

The Pound to Canadian Dollar rate breached the 1.70 mark once again this morning, after previously hitting that level back on the first day on this month. Mid-market levels of 1.70 are the highest since June of last year, meaning that those converting their Pounds into Canadian Dollars are able to do so at some of the best levels in almost 18-months. The reason behind this can be put down to both Sterling strength as well as CAD weakness, as talks of the 23-year old NAFTA...
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...

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...
Interest rate decision for Canada

Pound to Canadian Dollar rate holds firm above 1.65, what data could impact the...

The Pound has had quite a positive day during today's trading session, after some better than expected economic data was released this morning. After a disappointing day yesterday when it was revealed that the construction sector shrunk for the first time in a year, the mood changed this morning as the services sector data came out better than expected. The services sector is very important in the UK and data surrounding it tends to have a big impact on Sterling exchange rates as the sector covers...
Will Theresa May's Brexit proposals this evening offer GBP/CAD direction?

Theresa May speech – Will GBPCAD keep rising?

GBPCAD has been rising to fresh highs as a much stronger pound and also a weaker Canadian dollar combine to present some excellent fresh opportunities to buy Canadian dollars. The pound is stronger on increased interest rate expectations whilst the Loonie is weaker as a combination of global factors including the stronger US dollar which has pulled funds from the Canadian dollar. If you are looking to buy or sell the Loonie against sterling today's speech by Theresa May which is being labelled as...
GBPEUR rate remains steady as markets await the Autumn Budget

Will Brexit concerns continue to drive GBP/CAD downward? (Joseph Wright)

The Pound to Canadian Dollar exchange rate has continued its downward trend during today's trading session, and I think it will be interesting to see whether 1.60 manages to act as a support level or not moving forward. The lowest level the pair have hit today is 1.6014 so the key level is getting closer. Sterling is generally under pressure at the moment but it has been helped today after UK GDP figures for July showed an improvement at a time when many are concerned that...
Could we see further CAD strength

Pound to Canadian Dollar rate getting closer to post-Brexit vote lows (Joseph Wright)

When compared with the Canadian Dollar, the Pound isn't in as bad a position as it is when compared with the Euros for example. Since the Brexit vote last June the lowest the GBP/CAD rate has dropped is around 1.5850, and at the moment the Pound to Canadian Dollar rate is trading around 5-6 cents higher than level. The Pound has been fortunate not to fall back to those lower levels as this week the Pound to Euro rate has hit a new post-Brexit vote low,...

Pound slides after latest Bank of England comments, will the GBP to CAD rate...

The Bank of England yesterday opted to keep interest rates on hold, and whilst this was expected it was the less bullish voting patterns and dovish comments from the BoE's governor that caused the Pound to fall further. Due to the increasing inflation pressures after the Pound's drop in value since the Brexit vote, there had been talk of raising interest rates in order to counter this, and previously the voting members of the Bank of England had voted at almost a 50/50 split in...
Will Theresa May's Brexit proposals this evening offer GBP/CAD direction?

Pound to Canadian Dollar rate hits a 3-month low after BoE member fails to...

Investors and clients hoping to change Pound into Canadian Dollars at higher rates have been left disappointed today. In this flat market many within the financial services has been awaiting the comments from Bank of England governor Ben Broadbent this lunchtime, as many had hoped that he would make a reference to his his option on whether there should be an interest rate hike in the UK in the short term future. We've been receiving mixed messages from the BoE recently and after an almost 50:50...