Pound to Canadian Dollar Remains Steady in 1.7479 and 1.7595 Range

Pound to Canadian Dollar Remains Steady in 1.7479 and 1.7595 Range

The pound to Canadian dollar this morning was trading at 1.7505 on the interbank exchange rate at the time of writing. The pound to Canadian dollar interbank exchange rate has edged up slowly from the recent lows seen on the 19th March of 1. 6541. The global number of cases of Coronavirus have now exceeded 930,000. The number of cases in Canada is relatively low at 9,700 which could help the Canadian dollar if the number of cases do not increase dramatically. Prime Minister Boris...
GBPCAD Rate Update: Oil Prices Fall, Along With UK Construction Output

Pound Sterling to Canadian Dollar Exchange Rate Forecast: GBPCAD Spike ad Oil Price Drops...

Pound to Euro Canadian dollar exchange rates have tested a two-week high as investors fears over a falling oil price combine with some slightly better sentiment towards the pound. GBPCAD has been choppy in recent weeks as the market scrambles to understand the impact s of COVID-19 and the implications for the global economy. The price of Oil has dropped to an 18-year low, below $20 / barrel, which has put pressure on the Canadian currency as it relies on its exports of Oil as...
Pound Stronger vs Canadian Dollar this Morning

Pound Stronger vs Canadian Dollar this Morning

The pound to Canadian dollar exchange interbank exchange rate was higher this morning by 0.63%. While the pound is stronger this morning against a number of its counterparts, there are 3 main reasons why we might see the value of the pound fall. Firstly, the UK has a current account deficit as a result of importing more than it exports. Also the pound has been propped up by significant capital inflows from investors abroad attracted to UK investments. If these inflows start to dry up...
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

Have We Seen the Worst For The Pound as The Bounce Bank Continues Against...

As the UK government continues to take control by forcing the nation into total lockdown, limiting the majority of movements for the 66 million in the UK, only allowing keyworkers out of their home while everyone else are only allowed out for visits to the supermarket and short periods of exercise. These moves coming around 2-3 weeks behind the rest of Europe seem to be giving confidence to market that the UK now has some degree of confidence in the spread of COVID-19. This has...
Brexit and Coronavirus Weigh on GBP as Oil Price Collapse Causes CAD Value to Fall

The Pound remains resilient against the Canadian Dollar

The Pound remains resilient this morning versus the Canadian Dollar despite the United Kingdom waking up to a new dawn with new stricter social distancing rules. Having traded in a broadly 1.65-1.70 range for the past seven days the pound opens this morning in the middle of this range at 1.6750 area. This continues the trend of Sterling resilience against most commodity currencies, such as the Canadian Dollar, due to their economic reliance on the export of their natural resource. For Canada this is their...
Canadian Dollar Saved by Inflation Target Being Met but Outlook Looks Worrying

Pound to Canadian Dollar Outlook – How will the Coronavirus affect the GBPCAD Exchange...

The pound to Canadian dollar has experienced some intense volatility owing to the Coronavirus, as we have seen the rate fluctuating quite sharply and suddenly, ranging from 1.6585 to 1.7997 on the interbank rate in the last month. This excessive volatility of 14 cents is the result of fears and concerns relating to the COVID-19 virus and the potential influence on the global economy ahead. The Canadian dollar had initially lost ground as investor’s worries over the price of oil had been a key...
Brexit and Coronavirus Weigh on GBP as Oil Price Collapse Causes CAD Value to Fall

Pound to Canadian Dollar Exchange Rate: CAD Firmed as GBP Sunk on BoE Outlook...

Into the last trading day of the week, the Canadian dollar firmed on Thursday as investors welcomed moves made by the Canadian government and central bank which helped to reassure flighty markets overnight. But the currency may still be at risk of declines up ahead. Meanwhile, Sterling remained under pressure as the market scrutinised recent comments from the Bank of England’s governor Andrew Bailey who hinted that the central bank may have to step in regarding GBP’s recent underperformance against nearly all rivals of...
GBPCAD Rates: Lack of Faith in the Pound Highlighted by Oil Crisis?

Pound to Canadian Dollar Outlook: Loonie Tumbles but Trudeau Unveils $82bn Economic Support Package

Yesterday saw the Canadian dollar fall to a four-year low against the US dollar as oil prices continued to tumble and investors awaited potential stimulus from the Bank of Canada to offset the economic impact of the coronavirus outbreak. The Loonie also weakened against the GBP, which was not performing too well itself over the course of the trading day. However, GBP received a swing of support following another announcement by the UK government that support is on the way for renters and freelance...
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

Pound to Canadian Dollar Exchange Rate: CAD Slides on Oil Price Drop as UK...

Heading into mid-week, the Canadian currency remains under significant pressure from falling oil prices. As has been the case for much of the recent weeks, the price of oil has held back the oil-correlated currency as the world faces an onslaught from the coronavirus outbreak. Being linked to risk has also done the Canadian dollar little favours as global risk sentiment remains at rock-bottom. Meanwhile, in the UK, the January unemployment figures were released yesterday. The report showed a rise in unemployment in the...
Canadian Dollar Suffers Seven-Week Low Following the Spread of the Coronavirus

Pound to Canadian Dollar Outlook: Collapse in Oil Prices Will Keep CAD Subdued Up...

In another week dominated by coronavirus news headlines, the Canadian dollar fared worse once more against the pound as falling oil prices kept the oil-sensitive currency under severe pressure. With Saudi Arabia launching an oil price war with Russia; selling oil at bottom rates in order to capture the market as global demand falls amidst the coronavirus crisis. Meanwhile, for the pound, investors were disappointed in the UK government’s lack of action last week concerning the coronavirus containment efforts. Towards the end of the week,...