Pound to Canadian Dollar Outlook: GBP Rises Following Factory Output Success as CAD Falls from COVID-19 Fears

Pound to Canadian Dollar Outlook: GBP Rises Following Factory Output Success as CAD Falls...

Heading into the second trading day of the week, the Pound to Canadian dollar exchange rate are favouring GBP upside following the released of the UK’s factory output data which displayed a 10-month high. This increase has boosted GBP on the hopes of the post-election rebound or so-called ‘Boris Bounce’ that investors had hoped for is looking likely to hold weight. Meanwhile, the Canadian dollar has once again fallen victim to coronavirus fears. Rising fears came following South Korea’s announcement of a state of...
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...
Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

Canadian Dollar Could Be Shaken up by Coronavirus Impact on the Bank of Canada...

The Canadian Dollar has come under focus as fears surrounding the coronavirus increase. The market suggests that the BoC outlook may be impacted by the virus as the CAD softens versus safe-haven currencies. The Canadian Dollar is not the only currency effected by the spread of the virus, with other risk-sensitive currencies like AUD and NZD both suffering losses as the market risk appetite reduces. Meanwhile, GBP is waiting on its Bank of England interest rate decision which is set to be announced later...
Pound to Canadian Dollar Outlook: Investors Favour Upside Following GBP Strength Boost

Pound to Canadian Dollar Outlook: Investors Favour Upside Following GBP Strength Boost

The pound to Canadian dollar exchange rate saw a rise on Tuesday following a new-found strength in the pound sterling which arrived after the USD’s recent weakness. The US’s weakness came after rising bets of a Federal Reserve interest rate cut next month. As a result, the pound was sent higher, which dropped the CADGBP interbank exchange rate lower. The Canadian currency was on the back foot as fading risk appetites weighed on commodities like oil which the CAD depends on so heavily. The...
GBP/CAD Retreats but Canada’s Oil Concerns Pile on Pressure

Pound to Canadian Dollar Outlook: GBP Pushes Higher as Factory Output Booms

Heading into a new week, the pound to Canadian dollar exchange rates are favouring the upside following the release of the UK’s factory output figures which showed a spike to a 10-month high. This has boosted GBP as the post-election rebound that investors had hoped for appears to be holding weight. Meanwhile the Canadian dollar has suffered once again at the hand of the coronavirus. Rising fears came after South Korea announced a state of emergency. As a result, the price of oil sunk,...
Pound to Canadian Dollar outlook Will Sterling struggle against the Canadian Dollar?

GBP to CAD Forecast: Investors Worry That Canadian Dollar May Peak and Then Struggle...

The Canadian dollar has been noted as the top performing currency in 2019, beating the likes of the GBP, USD and EUR. However, investors are concerned that the currency may be starting to peak and is due for a sharp decline in 2020 as it may struggle to find an encore. Economists are suggesting that the tailwinds seen in 2019 may start to fade as 2020 gets underway. Meanwhile, the GBP suffered losses after the release of poor economic data in the form of...
Have We Seen the Worst For The Pound as The Bounce Bank Continues Against CAD?

Should I buy Canadian dollars now?

Its been a tough couple of days for the Canadian dollar vs Sterling so should you buy Canadian dollars now? Yesterday the Bank of Canada kept interest rates on hold at 1.75% and thereafter provided an extremely dovish statement which was a surprise to the markets. The Central Bank stated that a sharp fall in oil prices, which will likely to have an impact on economic growth was the main concern, and the trade war between the US and China is still a concern for...
Pound to Canadian Dollar Outlook: GBP Rises Following Factory Output Success as CAD Falls from COVID-19 Fears

Corona Virus Fears Led to a Fall in CAD Value, but a Vaccine May...

Purchasing Managers' Index Keeping CAD” Firing on All Cylinders’ At the start of the week, the continued spread of the Corona virus triggered the World Health Organisation (WHO) to announce the disease as a global health emergency. This pressure weighed heavily on the Canadian dollar as a risk-sensitive currency through a reduced market risk appetite. With the breakthrough of treatments coming just in time though, CAD investors looked to be buoyed. A caveat to these celebrations was served by the WHO though, who declared...
Have We Seen the Worst For The Pound as The Bounce Bank Continues Against CAD?

When is the best time to buy Canadian dollars?

The pound to Canadian dollar exchange rate had been improving at a rapid pace, improving in 2018 by over 14 cents presenting some of the best rates to buy Canadian dollars since the Referendum. The overall expectations for the pound are to see further improvements as we get further clarification on the Brexit and also interest rates. The Canadian dollar has been strengthening owing to the rising price of oil which has seen the Canadian dollar strengthen owing to oil being one of its major exports. The...
Pound to Canadian Dollar Outlook: CAD to Continue Oil Price Weakness with BoC Rate Decision Up Ahead

Pound to Canadian Dollar rate: Pressure on Sterling increases as chances of a no-deal...

Pound to Canadian Dollar exchange rate at lowest levels since September 2017 The current levels for exchanging pounds into Canadian dollars sits at a 22-month low at the time of writing, as the GBP/CAD pair haven't traded this low since September of 2017 when sterling came under heavy selling pressure. Back then the pound lost value against most major currency pairs as UK Prime Minister at the time, Theresa May, didn't get the support she needed to gain a majority at the General Election she...