GBP/CAD rate slides as both currencies weaken and upcoming week’s data likely to shift exchange rate

What Brexit means for the CAD to GBP forecast

Being the 7th most traded currency in the world, The Canadian dollar (CAD) is in contention for many traders and buyers alike. Many currencies interact with each other and the pairing between the GBP and CAD is no different. With Brexit talks firmly ongoing, the effect it has had on the CAD/GBP pairing is substantial. Analysts and buyers are keeping a close eye on the events of Brexit and what it may mean for the GBP and currencies that overlap with it. Brexit’s unpredictable volatility There...
Poor GDP Data for Canada Weighs on Poor Performing CAD Whilst Trump Wobbles the Trade Deal Tensions

Pound to Canadian Dollar outlook: Will GBP/CAD rise or fall on the UK election?

Sterling supported by Brexit extension The pound to Canadian dollar exchange rate has been rising and falling along with the sentiments on Brexit, notably the prospect of a no-deal exit for the UK. This element had been majorly holding back the pound in recent weeks, as investors feared that the UK might be leaving the EU on Halloween with no-deal. More recently, sterling has been rising as investors become more confident over the extension which has now been agreed. We are also awaiting further details regarding...
GBP to CAD forecast Will the Bank of Canada keep interest rates on hold?

GBP to CAD forecast: Will the Bank of Canada keep interest rates on hold?

Bank of Canada expected to keep interest rates on hold The Bank of Canada continues to buck the trend in the face of global interest rate cuts and are widely expected to keep interest rates steady at 1.75pc late this afternoon. The Canadian economy continues to be buoyed by a robust domestic employment market and investor optimism that a long-awaited trade deal may be forthcoming between the US and China in the coming weeks. As a commodity-linked currency, the Canadian dollar will benefit from a...
The GBP/CAD exchange rate struggles as UK labour market slows

Pound to Canadian Dollar forecast: General Election could weaken Sterling

Brexit extension agreed Sterling remains fragile due to the lack of clarity surrounding Brexit. We are now looking at a "flextension" until 31st January, but if a deal can be secured it can be done so before the 31st January. Boris Johnson's deal came close to approval, but he has now had to pull the deal off the table in order to push forward with a general election. This does not mean that the majority of the deal would not come back to the table at...
GBPCAD Exchange Rate on the Rise with Brexit Party Ruling Out Tory Seat Contention

Pound to Canadian Dollar :When will there be a General Election?

The pound to Canadian dollar exchange rate has fallen lower after reaching a high over 1.70 last week for the GBP vs CAD pair. The gridlock over Brexit remains with the parliament effectively paralysed over what it can do. UK Prime Minister Boris Johnson has requested a general election for a third time last night although the Labour opposition party are refusing to back one. The government has put forward a date of 12th December but under the fixed term parliament act there must...
Pound to Canadian Dollar exchange rate Canadian PM Justin Trudeau wins second term but the loss of his overall majority, hampering CAD rates

Pound to Canadian Dollar exchange rate: Canadian PM Justin Trudeau wins second term but...

Any clients with an upcoming pound to Canadian dollar currency exchange requirement will have been keeping a close eye on political developments in Canada overnight. The Canadian general election results were announced, with current Prime Minister Justin Trudeau winning a second term in office. PM Justin Trudeau loses parliament majority: How have CAD exchange rates reacted? Despite his victory the PM lost his overall majority, which was seen as a significant blow and is likely to severely impact his next few years in office, as it...
Pound to Canadian Dollar Forecast Steady Tone for the Canadian Dollar Ahead of Key Domestic Data Due This Week

Boris forced to request delay from the EU

Johnson's deal lies in the balance Brexit continues to be the key driver on GBP/CAD exchange rates. Following parliament vote on the Brexit deal on Saturday. Boris Johnson was forced to send a letter to the EU requesting a delay on Brexit. Boris now wanted a clear yes or no answer from members of parliament today. John Berkow will have the decision on whether this goes ahead or not. Brussels are happy with the deal, the deal does away with the Irish backstop, it effectively draws...
A Steady CAD Ensues Following a Lift in Wholesale Trading and Gives an Economic Boost

Pound to Canadian Dollar forecast: Could a Brexit Deal finally come to fruition?

Crunch time for Brexit Talks Yesterday saw Sterling make significant gains against the Canadian Dollar following news of a potential Brexit deal. GBP/CAD hit the highest levels since June, at one point reaching the high 1.68s. There has been optimism from both the UK and Brussels that a deal could be on the cards. There is no official news that a deal has been struck, but reports suggest both sides are working on the legal text of the document. Time is running out A deal is meant to...
GBPCAD Exchange Rate on the Rise with Brexit Party Ruling Out Tory Seat Contention

Pound to Canadian Dollar outlook: What can we expect this week on GBP/CAD?

Pound to Canadian dollar rates soared to 1.6790 on the interbank rate, touching a 4-month high for buying Canadian dollars with pounds last week. Developments in the political situation relating to the UK's potential exit from the EU has influenced sentiment, with the pound rising sharply on expectations of a deal. Volatility expected this week for GBP/CAD exchange rates GBP/EUR exchange rate may face some interest this week as we may see increasing developments on Brexit. We have the much anticipated EU Summit on Thursday and Friday...
Pound to Canadian Dollar exchange rate Global trade tensions and Brexit to drive GBPCAD rates

Pound to Canadian Dollar exchange rate: Global trade tensions and Brexit to drive GBP/CAD...

The pound to Canadian dollar exchange rate has continued to fall due to Brexit talks coming to a standstill, despite last week’s disappointing Canadian GDP release. Canadian economic developments: Effects on GBP/CAD exchange rate Posting 0pc growth for July, the markets were disappointed with the figures having expected a 0.1pc expansion. Canada’s economy had outperformed during Q2 as oil prices crept up and exports increased enabling the economy to grow at a healthy 3.7pc annualised figure, its strongest in years. However, sterling failed to take advantage...