Pound to Canadian Dollar: Sterling loses ground due to Brexit Uncertainty

GBP/CAD Rates holding steady

Positive data released this morning for the UK industrial complex pushed GBP/CAD rates back into the 2.02's and verging on 2.03. UK construction and industrial sectors been one of the worst performers recently for the UK economy, which is why the first suggestion that this may be changing has caused Sterling strength. However, this was short-lived. Strong Durable Goods orders in the US have bolstered confidence in the US economy and by association the Canadian Dollar . Durable Goods are items which take a long...
GBPEUR rate remains steady as markets await the Autumn Budget

Quiet week for Data

This week the only significant release of data to give us a glimpse into the Canadian Economy will be on Friday, where GDP figures for June will be revealed. Until then GBP/CAD, EUR/CAD and other CAD pairings will be governed by events outside of the country. Following surprisingly goodretail sales figures for the Canadian economy last week, growing twice as fast as analysts had expected, GBP/CAD rates shot down to 2.01 and have since settle just above 2.02. This was also helped by the opposite...

Strong retail data sees GBP/CAD rates tumble!

CAD strengthened yesterday following the surprising growth in their retail sales sector. In a single month the sector grew by 1%, half of which was a growth in car sales due to cheap fuel. Due to the further worsening of oil prices, many who were waiting to buy a car could move on this, because they were more confident with handling the long-term costs involved. Specifically concerning GBP/CAD rates, this was a fantastic day for CAD sellers. While the Canadian retail sector expanded, the opposite...
Could GBP/EUR breach 1.13 this week?

*Breaking News* GBP crashing

Sterling has already fallen more than 1.5 Cents against the CAD in the space of 5 minutes. GBP/CAD rates are now just above 2.02. Look to post below - If you have CAD to buy do so now, do not wait until later releases today to save the current buying levels. Call 01494 787 478 for a free quote on your transfer.
GBP to CAD Rates Slip after Strong Week

CAD value currently stable

CAD has found stability following the BOC's pre-emptive decision to deploy a rate cut. This was hoping to safeguard the economy from the effects of historically low oil prices, worsened by the expected glutting effect once Iranian oil becomes available for global purchase. The only slight spike has been by about a Cent for GBP/CAD rates following the announcement yesterday that the Bank of England may consider an interest rate hike as early as November (data permitting). So we are faced with extraordinary buying opportunities, and...
Pound to Canadian dollar forecast: Could GBP/CAD rates rise further?

GBP/CAD rates hovering just above 2.0

GBP/CAD Rates have dipped into the low 2.01's this morning before recovering a little higher. It seems those holding CAD are skittish and jumping on any slight improvements in rates in a bid to sell off the strikingly weak currency. This seems to be the only factor which is keeping rates at 2.02. The muscle behind much of the rates movements recently has been the current strength of Sterling. While some of this is deserved with fantastic employment and growth figures, much of this is...
GBPEUR rate remains steady as markets await the Autumn Budget

Greece approves bailout deal

Greece's parliament approved the bailout deal offered by the European Council last night, with 229 voting for the package and 64 against. Of that 64, half were from the ruling Syriza party. The vote was passed amid a tirade of petrol bombs thrown by protestors outside, but we are finally at a point where a deal seems to be close to being finalised. The bailout now needs to be ratified by the parliaments of several key members. After months now, world financial markets can...
Interest rate decision for Canada

GBP/CAD rates break 2.0!

Markets were stunned today, as the Bank of Canada announced that interest rates will be slashed down from already historic lows of 0.75% down to 0.5%. Furthermore, growth forecasts were also cut back which underscored the lack of confidence in the Canadian economy. Cutting interests rates has been a key way to stimulate economic growth throughout the world following the recession. It encourages the population to spend as lowering rates reduces the incentive to save, and encourages business ventures by making credit cheaper to receive. Canada...
Pound to Canadian dollar forecast: Could GBP/CAD rates rise further?

GBP/CAD rates soar following Iran negotiations

Another surprise has put a spanner in the works for those holding Canadian Dollars and looking to sell. After years of fruitless negotiations, it was announced that sanctions would finally be lifted again Iran in exchange for them scaling back their efforts to become a nuclear power. By lifting these sanctions, the signficant amounts of oil in Iran will soon be available for purchase on the world market. This in turn has lowered oil prices, reversing all of the gains of the past few months which...
Pound to Canadian Dollar: Sterling loses ground due to Brexit Uncertainty

GBP/CAD Rates surge following ‘Agreekment’ (Daniel Wright)

GBP/CAD rates have breached fresh 8 year highs today - hitting 1.986 briefly on the markets before falling back down to 1.975 by the close of UK trading. This stunned market onlookers, and honestly it took a while for most of us to decipher why rates jumped up so high. Firstly, oil prices tumbled and they are expected to tumble more, as Iran nuclear deal nears. Once the sanctions are lifted against Iran when they agree to halt their nuclear weapons program, prices are expected...