Pound to Canadian dollar outlook: Factors that are impacting sterling

Pound to Canadian dollar outlook: Factors that are impacting sterling

The Bank of England interest rate decision on Thursday afternoon is the main economic event for the UK this week. It is widely expected that the monetary policy committee will vote in favour of keeping interest rates on hold at 0.75%, therefore the actual interest rate decision may not have an impact on pound to Canadian dollar exchange rates. UK inflation and growth reports expected Thursday afternoon After the meeting in which the BoE will decide on whether to increase, decrease or leave interest rates as...
Canadian dollar vs pound rates as Canadian GDP data due out tomorrow

Canadian dollar vs pound rates as Canadian GDP data due out tomorrow

It has been a rather interesting year for the pound against the Canadian dollar with GBP/CAD exchange rates moving by as much as 9 cents from the high to the low or the difference of CAD$9,000 on a currency transfer of £100,000. This highlights the importance of using a currency broker who can keep you updated with regular market movements on exchange rates. Last week the Bank of Canada announced their latest interest rate decision and kept interest rates on hold at 1.75%. With 3...
Pound to Canadian dollar predictions: Will GBP recover against CAD?

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 vs CAD exchange rates ahead of 4th meaningful vote in British Parliament

Pound to Canadian dollar forecast – BOC interest rate decision

BOC interest rate decision The Bank of Canada (BOC) interest rate decision will take place this afternoon. Rates are currently set at 1.75% after a rate hike in October 2018. It is expected that rates will be kept on hold and will continue to be for the foreseeable future. The speech by BOC Governor, Stephen Poloz following the decision does have the influence to move the market. If Poloz makes a hint towards a potential rate hike before the end of 2019 we could see Canadian dollar...
Pound to Canadian dollar exchange rates: The pound loses value against the Canadain dollar

Mixed Canadian data – will the pound increase against the Canadian dollar towards the...

The Canadian Dollar has started to improve against the pound in the last few days after falling to its lowest level in almost a year in March. The trade talks between the US and China appear to be improving and this has helped to strengthen the value of the Canadian dollar against sterling. We have also seen oil prices increase since December by as much as 50% and as Canada is such a huge exporter of oil this has also helped to strengthen the Canadian dollar. Canadian...
GBP vs CAD exchange rates ahead of 4th meaningful vote in British Parliament

Pound to CAD rates as Brexit deadline extended

The EU have granted the UK a six month extension on the Brexit deadline until 31st October. UK PM, Theresa May who had hoped for a much shorter delay said the UK will aim to leave the EU as soon as possible. Although the extension is set until 31st October the UK will be allowed to leave before this date if a deal is passed. Pound to Canadian dollar forecast The extension was largely factored into the currency market as it moves on rumour as well...
Pound to Canadian dollar exchange rate forecast: Will GBP/CAD rates rise or fall in May?

GBP/CAD forecast: CAD’s value has spiked by over 3 cents as Brexit uncertainty causes...

GBP/CAD exchange rates have fallen by over 3 cents this week, with the pound seeing its value fall in line with the continued uncertainty surrounding Brexit. With the UK’s revised deadline to leave the EU fast approaching, investors seem to be getting nervous ahead of Friday’s impending deadline. Whilst a deal is highly unlikely to be agreed and certainly not finalised by Friday, there were some positive developments this morning in regards to the Irish backstop issue. This is one the key sticking points in negotiations and...
GBP to CAD forecast: Cross-party talks likely to influence the Pound to Canadian Dollar rate this month

GBP to CAD forecast in key Brexit week

The pound to Canadian dollar exchange rate has weakened in the last few weeks away from the March highs which saw levels above 1.77 for the GBP to CAD pair. Brexit uncertainty is the main driver for the slide lower in sterling and causing a volatile period in these final Brexit stages. As things stand, Britain will leave the European Union this Friday, the 12th April which means these next few days will be crucial in determining how things unfold. Whilst cross party talks continue...
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...
GBP to CAD forecast - CAD supported on stronger GDP

GBP to CAD forecast – CAD supported on stronger GDP

The pound to Canadian dollar exchange rate has fallen lower in the last week coming off its recent high having nearly touched 1.78 for the GBP/CAD pair. Rates are now trading above 1.74 as the markets continue to digest all the latest Brexit developments as the political situation in Britain remains deadlocked as parliament attempts to agree a way forward. Today will see another round of indicative votes on the future relationship between Britain and the EU but there is still not one form of...