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

Canadian Dollar movements still hinged on NAFTA progress and Brexit

GBP/CAD exchange rates are still very much reliant on political issues on both sides. Investors and speculators alike await news on progress with either Brexit or the NAFTA (North American Free Trade Agreement). On the Brexit side of things I would expect plenty of market volatility as we see changes in the general feeling around the potential outcome of negotiations. We have already seen a shift in Brexit sentiment on numerous occasions. In general when sentiment becomes more positive it leads to gains for the pound...
Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

Will GBP/CAD Hit 1.90 Ahead of EU Referendum? (Matthew Vassallo)

GBP/CAD rates hit 1.8743 at today’s high, before slipping under 1.87 by close of European trading. The pair have remained fairly static this week, despite gains for Sterling against most of the other major currencies. It seems as though the markets are undecided which way to go, ahead of next month’s EU referendum and with mixed data coming from both economies, we may find the pair range bound between 1.85-1.90 over the coming weeks. Those clients holding Sterling will be concerned about the damage a...
Pound to Euro forecast Sterling slides against major currencies as Brexit negotiations stall

Sterling rises against the Canadian Dollar following UK manufacturing data (Tom Holian)

The Pound has made advances against all major currencies during this morning's trading session following the release of UK manufacturing data which came out a lot higher than expected. The figures for August came in above expectation at 53 compared to last month of 48 and not only is above 50 a positive but the figures were hugely better than expected leading to Sterling strength vs the Canadian Dollar. This provides further evidence that although the Brexit had a devastating effect at the time the economic...
Canadian Dollar Forecast: CAD Continues to Suffer from Pandemic Woes

Rate to buy Canadian Dollars with Pounds drops to its lowest level since November...

The Pound vs the Canadian Dollar is now trading at its lowest level to buy Canadian Dollars since November 2017. The Pound has endured a very difficult time especially in the last few weeks as the topic of Brexit is still on going. It appears as though the UK is heading towards a no deal Brexit according to Bank of England Governor Mark Carney and UK Trade Secretary Liam Fox. This uncertainty has weighed heavily on the Pound with Sterling dropping to its lowest level all...
Pound to Canadian Dollar Outlook: GBP Rises Following Factory Output Success as CAD Falls from COVID-19 Fears

Improvement in growth figures leads to a good end to the week for Canadian...

This afternoon we have seen the last few data releases of the trading week and indeed the month from the U.K and Canada. Growth figures for both economic areas were the two main releases of the day, with both posting slightly better than expected figures. First and foremost we had U.K growth figures, expectations were for the figure to post at 0.1% growth but the actual figure was revised up to 0.2%. With the weather being spectacular in the U.K at present and England looking like they...
Pound Euro falls after PMI Services Data in the UK

OPEC to influence rates to buy Canadian Dollars with Sterling (Tom Holian)

Sterling vs the Canadian Dollar has gone in an upwards direction as oil prices are predicted to fall as Russia has said that it will not attend the current OPE meeting due to take place tomorrow. As the Canadian Dollar is a petro-dependent currency any fall in the value of oil prices causes the Canadian Dollar to weaken vs Sterling and this is what has happened over the last 24 hours. Many countries want to see a reduction in oil output to allow the price per...
Pound to Canadian Dollar Outlook: Canadian Dollar Drops to Four-Year Low as Economic Fears Spike

Brexit Talks and US Trade Tariffs Continue to Influence Investors’ Risk Appetite

GBP/AUD rates have remained fairly flat of late, with the pair hitting a high of 1.7795 overnight. The AUD did find support around this threshold before falling back towards 1.77 by the opening of European trading. The Pound’s struggles have been well documented but due to the slowdown in global trade, it has managed to offset any aggressive losses against the AUD. With the UK Government seemingly in turmoil, Prime Minster Theresa May has taken the bull by the horns this week and announced that she...
Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

Canadian Dollar finally weakens

As polls open and North-American markets finally become concerned about the potential for a change of Prime Minister following the latest poll numbers, the Canadian Dollar has finally weakened after a long-delay. The rule of thumb on currency markets is for weakness surrounding election for any given currency. The Canadian Dollar has proven that it also follows the same rules, however delayed the result. GBP/CAD has strengthened a full 1% in 2 hours and USD/CAD and EUR/CAD are following similar patterns. It is difficult to gauge how far this...
Pound Euro falls after PMI Services Data in the UK

Sterling has a good start to the month against the Canadian Dollar (Tom Holian)

Sterling has continued its recent gains vs the Canadian Dollar as economic data in the UK continues to impress since the Brexit vote at the end of June. UK Services, Manufacturing and Construction data for August have all come out better than expected for August following a disastrous July. Clearly the uncertainty caused by the Brexit meant that the investment in the UK following the vote to leave the European Union was much lower and this was reflected in the value of Sterling. Sterling has now rallied...
Pound to Canadian Dollar Outlook: Loonie Tumbles but Trudeau Unveils $82bn Economic Support Package

GBPCAD close to reaching 12 month high!

In recent weeks the GBPCAD exchange rates have continued to climb proving opportunity for Canadian dollar buyers, however I expect exchange rates could get better in the weeks to come. NAFTA negotiations began on Tuesday in Montreal and the initial reaction is that the negotiations have actually started well which is a surprise. However the underlining issue is that US President Donald Trump wants to modernise the NAFTA agreement or remove the US. Mr Trumps theory is that the manufacturing sector in the US is...