Will Pound to Euro Rates Gain in September?

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...
Pound Stronger vs Canadian Dollar this Morning

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...
How Is COVID-19 Effecting GBP to CAD Exchange Rate?

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...
Gbp to Cad Exchange Rate Hits a 1-Month High as Risk Appetite Returns to Global Markets

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...
Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

News over the weekend sees Sterling trading higher on markets

GBP/CAD rates have crept back up into the low 1.97's as talks concerning the Greek crisis have dragged on through the night on Sunday. Today it is thought that Greek banks will completely run out of cash. Hence, the sudden urgency or some form of agreement between all parties. Over the past few months GBP has been gaining strength regularly when Greek talks deteriorate, as money flies into 'safe haven' currencies and out of the volatile Euro. As such GBP/CAD trading levels today will be entirely...
Pound Stronger vs Canadian Dollar this Morning

GBP/CAD surge today a lesson in market hysteria (Joshua Privett)

Today a long morning of panic selling for the Canadian Dollar emerged. Today at 13:30 GMT was the release for Canadian unemployment data. It seems a lot of investors bet that the data would come in much lower than expected after a long run of low oil prices which have hammered the Canadian economy. Before the data release many were selling off their Canadian Dollars in hordes as people were worried that the initial tick down of the rates was suggestive that someone knew something they didn't....
Pound to Canadian Dollar Rate Remains Towards the Top of Its Range Despite Fears of Brexit Negotiation Delay

Will GBP-CAD rates continue to fall?

Yesterday was incredible, and a true example of a market in panic. Sterling has recieved an artificial boost recently against all currencies as more and more money left the Eurozone, with a potential Grexit on the horizon, into safer currencies. As the post below explains, this is now changing with a more likely deal on the horizon with Greece. Funds are returning to a more stable Euro in droves, which is causing this largely 'fake' Sterling strength to deflate. Today there is little data out from...
Pound to Euro Outlook: GBPEUR Rates Reach 4-Week Interbank Highs

GBP-CAD rates back to 1.95 as Sterling loses value (Joshua Privett)

Those who were hoping that GBP-CAD rates were journeying towards 2.0 received a bit of a shock today, as rates dropped 2 cents in a single day of trading. There has been a huge volume of capital pumped into Sterling as many investors holding Euros panicked about a potential Grexit. Sterling is considered a safe-haven currency, so the continued buying of GBP artificially inflated the value of the Pound - causing gains against most major currencies. Now the opposite is happening. With positive moves in the...
Pound to Euro Consolidates Above 1.12 Despite Increased Fear of No Deal Brexit

GBP/CAD rates fall as Sterling loses value against most currencies

It seems that the correction happened sooner than expected. However, it is not by much. We are still comfortably in the 1.97's for GBP/CAD rates. Sterling's fall is mainly due to the tempting buying opportunities available now across the board. So those holding Sterling are buying up other currencies while they are cheap, which in turn lowers those rates as the purchased currency strengthens. This is nothing to do with positive progression in the talks between Greece and her creditors. Overnight there was news announced about the...
Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

GBP/CAD Rates hit 1.97! (Daniel Wright)

Rates continue to surprise as more and more capital is thrown into the Pound following Greece's popular rejection of their creditor's bailout claims. As such, the Pound has strengthened against all major currencies today. With a high of 1.975 reached as I write this, I would not be surprised to see 1.98 reached overnight in the UK while North American markets continue to trade and abandon their Euros for Pounds. It was a shame for CAD sellers to hear, as positive data was released today concerning...