Pound to Euro Outlook: GBPEUR Rates Reach 4-Week Interbank Highs

Bank of Canada Governor Suggests Caution on the Outlook (Ben Fletcher)

The Bank of Canada Governor, Stephen Poloz has suggested there should be caution when considering the Canadian economies outlook. Poloz suggested the current global climate that just as quickly improved the CAD could reverse it. Furthermore he suggested that the likelihood of an interest rate hike was still a significant time away, with expectations being late next year. This suggests to me that if you’re holding CAD then you should consider cashing in on the rates as the chances of something happening in the economy...
Gbp to Cad Exchange Rate Hits a 1-Month High as Risk Appetite Returns to Global Markets

CAD Increase Further Despite Oil Drama

The Canadian Dollar continued to strengthen against Sterling despite the drama in Doha over the weekend which has resulted in a production freeze all but being scrapped. Iran’s absence and Saudi Arabia’s refusal to enter a deal without all 17 nations being in a deal has resulted in Saudi Arabia saying it will pump in more oil. However the price of a Barrel of Oil has managed to increase throughout the day, mainly due to the fact that production in Kuwait is halted due...
Pound Sterling Forecast – What Will Move GBP Rates in June?

Canadian Dollar Supported on $25 Billion Government Spending (James Lovick)

The Canadian dollar still maintains the higher ground against the pound despite some taking some short term losses over the last few days. The Bank of Canada decided to hold interest rates at 0.5% last week having not been forced into a move considering all the additional spending that is being provided by the government. Canadian Prime Minister Justin Trudeau has embarked on a $25 billion spend on infrastructure which should in theory be a major boost for the Canadian economy at a time...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

What will Affect GBP/CAD this Week? (Daniel Johnson)

CAD gained some strength last week after an increase in oil price. This was halted however when news that the Organisation of Petroleum Exporting  Countries (OPEC) had failed to reach an agreement on a price freeze. CAD has fallen in value as a result. Moving forward the Bank of Canada's (BOC) Head, Governor Poloz is set to speak tomorrow. He will be discussing economic climate and future monetary policy which can cause swings. I expect a dovish tone from Poloz due to current market conditions...
Pound Sterling Forecast – Will the Recent GBP Recovery Last?

Can the Canadian Dollar Continue to Strengthen? (Ben Fletcher)

The Canadian Dollar reached its strongest position for over a year with Sterling rising to 0.55. The Canadian Economy had a very slow start to year but has turned things around reporting better than expected quarter growth. Whilst the oil price and other commodities heavily effect the price, the recent jump for resources has certainly played its part, the economy is moving in the right direction. Household spending is moderately increasing and jobs are being created in the non-resource sectors. However the energy sector is...
Pound Sterling Forecast – Will the Recent GBP Recovery Last?

How will the EU Referendum affect my trade? (Daniel Johnson)

Current polls show that 52% of the UK wish to leave the EU. I feel the majority of voters in the leave camp are unaware there will be very little change with regards to migrant control, but if we leave but the impact on the UK economy could be catastrophic. The International Monetary Fund yesterday warned that trade relations will be put under significant strain and exports out of the UK would drop as a consequence. The UK economic growth forecast has now been...
Pound Sterling Forecast – Will the Recent GBP Recovery Last?

GBPCAD close to 12 month lows, what next? All eyes on the Canadian dollar...

If you are buying Canadian dollars with sterling the outlook is not terrible but it is likely the pound will lose further ground against the Loonie as investors fears over the Referendum continue to manifest. This is in my opinion going to be the main driver on GBPCAD exchange rates in the coming weeks and months although of course there will be other factors to take stock of. The price of Oil also has a large impact on the value of the Canadian dollar and...
Pound Sterling Forecast – Will the Recent GBP Recovery Last?

GBP/CAD exchange rates falling further (Joshua Privett)

To end the week the Canadian Dollar has been the currency which has seen the largest gains against the Pound today. GBP/CAD has collapsed due to absolutely staggering employment figures in Canada. In the month of March alone more than 40,000 jobs were added to the economy, when only circa 10,000 were expected, causing the unemployment rate to fall down to 7.1%. Markets move on expectations. Slight gains had already been priced into the value of Canadian Dollar buying rates to work alongside the slight gains...
Brexit and Coronavirus Weigh on GBP as Oil Price Collapse Causes CAD Value to Fall

GBP/CAD flat with both currencies weakening (Joshua Privett)

Sterling is down against all major currencies today with GBP/CAD being the only exception. News that foreign investors are pulling out of the UK steel industry is essentially being seen as a vote of no-confidence by the international community that the UK economy will be seeing a turnaround anytime soon. As a result the average drops on the Pound against most major currencies has been about 1% each day. The only reason that GBP/CAD rates have only seen minor drops is that the drop of oil prices...
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

Possible “Brexit” to weigh heavily on the Pound (Daniel Johnson)

Today we have witnessed a Spike of  2 cents for the Pound over the Canadian Dollar. However, I do not think current buoyancy levels will remain. Canadian GDP has been released and output has risen 0.3% more than anticipated. When this is coupled with the uncertainty surrounding the EU referendum I think the Pound could well lose further value. If the UK are to leave the European Union I would expect Sterling to drop as much as 20 cents against the Canadian Dollar. Many of my...