GBPCAD Rates: Lack of Faith in the Pound Highlighted by Oil Crisis?

CAD rates- Election focus

With little data to be released today it's unlikely we will be seeing much movement on CAD value. USD/CAD rates may see some movement as North-American markets open for trading in the morning with the release of retail sales data in the US, which normally has quite a sway on US Dollar value. Should the data set come in poorly, the CAD with gain against the USD, and likely get a secondary bump against its other currency pairings as capital moves out of the...
Pound to Canadian Dollar outlook Will Sterling struggle against the Canadian Dollar?

Canadian Dollar still very volatile

The Canadian Dollar's value is still shifting parallel to a rollercoaster-like oil market. Last week Oil prices rose by 10% in total, this was matched by a 4% decline overnight on Monday heading into Tuesday. The Canadian Dollar fell away slightly from recent gains as a result. The reason for the decline was a reduction in Chinese imports by 20% last month alone, which caused many to question whether forecasts for future oil demand would overstated, causing oil prices to fall again. The general trend, however,...
Pound Sterling Forecast – What Will Move GBP Rates in June?

GBP/CAD hits 1.97!

The combination of incredibly poor data from the UK on Friday and the rise in oil prices announced this morning is continuing to push back GBP/CAD. This allowed 1.97 to be seen briefly on the markets. On Friday the UK recorded its worst contraction in the construction sector in two years. A fall of 4.3% in the space of a single month caused the Pound to lose value rapidly. This was not only because confidence in the UK economy weakened, but because this dismal news...
Sterling Declines Ahead of EU-UK Trade Negotiations

GBP/CAD back above 2.0!

GBP/CAD rates have recovered slightly overnight with the news that oil prices dipped marginally after their recent one month highs on the markets. Like currency movements, oil prices were never meant to move in a straight line. It seems that US stocks of Crude Oil did continue to increase even though production has decreased now that shale and fracking has become less economical. This indicated that demand had fallen slightly as well. With the Canadian Dollar so heavily tied to the value of the oil price,...

CAD rates finally stable

CAD rates are currently stable following the recent increase in oil prices documented in previous posts on this websites. While the Canadian Dollar has been stable on GBP/CAD, gains are still visible against the Euro and USD. The reason the slide in favour of CAD has halted on Sterling rates is due to positive data from the UK released this morning about a positive turnaround in their manufacturing sector. The first signs of positive tones in the oil market are now available after more than half a...
Pound Stronger vs Canadian Dollar this Morning

GBP/CAD rates below 2.0!

The Canadian Dollar rally has continued unabated as GBP/CAD rates have now cascaded below 2.0 and got as low as 1.98 before correcting just above 1.99 as trading opened in North American markets this morning. A string of positive data from the Canadian economy has been moving GBP/CAD down for the past four weeks as Canadian Dollar strength began to outweigh the flailing confidence in the UK Pound. What finally pushed rates below the 2.0 mark was actually two consecutive 3% rises in oil price over...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

GBP/CAD falls below 2.01!

The rally for the Canadian Dollar has continued unabated following strong GDP figures released yesterday morning. As a result, GBP/CAD is now at its lowest levels since we first journeyed above the 2.0 mark in July. We have come close to this territory before, with GBP/CAD rebounding just as 2.01 was hit. Currency markets are fickle. Arbitrary boundaries are created around whole numbers such as 2.01 or 2.00 which are hard to break through called 'resistance levels'. Currency traders at large banking institutions set in 'limit orders'...
Sterling Forecast and What to Expect this Week

GDP figures boost Canadian Dollar

*Breaking news* we have just had the revised figures for Gross Domestic Products in the Canadian economy for the month of July. A significant barometer for measuring growth in the economy, these data releases normally have a powerful effect on Canadian Dollar exchange rates. The growth in the economy for the single month of July came in at +0.3%, and this was even when oil prices were at their lowest. The Canadian Dollar itself has received a lot of attention from the news. Previously GBP/CAD...
Pound to Euro Exchange Rate Outlook: Busy Week Ahead for GBP to EUR Rates

GBP/CAD reaches 2.03

GBP/CAD rates have been slowly correcting upwards following the massive gains for the Canadian Dollar after the events of last week. The correction, however, is only slight, showing that the same market forces are still in place with market participants still trying to free themselves of their Sterling to purchase Canadian Dollars. The announcement by Janet Yellen, the head of the Federal Reserve Bank of America, concerning the near certainty of an interest rate hike in the US has caused severely ripples across the currency...
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

Canadian Dollar week-long gains

The Canadian Dollar has had its most positive week in months, even with an election on the horizon which normally makes investors reluctant to get involved with the currency in question due to the uncertainty on its future financial policy. The first boost was this weeks rise in oil price by more than 2.5% following the announcement of reduced drilling output for the US, as the prolonged low oil price has made their shale oil uneconomical to produce. As a major exporter the value of...