Brexit Uncertainty Could Impact GBP/CAD Value This Week

Will Theresa May get her deal through this week and how could it impact...

The Pound is currently sat up in the 1.32s against the Dollar as investors and speculators appear to have a new found confidence in Sterling. This week will be another important week for anyone looking to buy or sell Pounds with a foreign currency, as it is likely to be another one with great volatility. Politics will most likely once again be the main driver for Sterling exchange rates and this does make rate predictions somewhat difficult to say the least. Will Theresa May get her Brexit...
GBPUSD Slips Away from 9 Month High

GBPUSD Slips Away from 9 Month High

The pound to dollar exchange rate has drifted lower today after what has been an incredible week of volatility for the GBP USD pairing, with all the latest political developments in the UK surrounding Brexit. Rates for GBP USD have risen to a 9 month high creating a good opportunity to buy dollars. After a series of votes in the British Parliament this week the markets are still none the wiser, although it is evident that the risk of a no deal Brexit is...
242 vs 391 - the Nos have it! Further uncertainty for the UK

242 vs 391 – the Noes have it! Further uncertainty for the UK

Last night MPs voted for the second time on UK Prime Minister Theresa May's Brexit deal and no surprises MPs decided to reject her deal. Earlier in the day Attorney General Mr Cox confirmed that the changes made over the weekend weren't water-tight, therefore the UK could still get trapped in the backstop agreement. This was the reason why MPs voted against the PM. The reaction was limited for GBP/USD exchange rates as the market had already priced in earlier in the day that the...
Sterling Forecast: Pound rises as Theresa May enters her possible breakthrough day

Sterling Forecast: Pound rises as Theresa May enters her possible breakthrough day

The Pound has gained ground against all major currencies overnight following news that Theresa May has managed to return from Strasbourg with some progress on her latest Brexit withdrawal deal. Today is crunch time for Prime Minister May as she awaits the meaningful vote on her latest Brexit deal, which should be of great importance for Sterling exchange rates. News overnight suggested that the latest developments with the deal have increased the chances of it being voted through. However this is still far from a foregone...
Pound to Dollar forecast: Brexit vote set to cause GBP/USD volatility

Pound to Dollar forecast: Brexit vote set to cause GBP/USD volatility

Non-Farm Payroll data disappoints On Friday we witnessed US Non-Farm Payroll numbers coming in below expectations with only 20k jobs created. The US Dollar lost ground across the board, but recovered slightly towards the end of the day. The recovery could be attributed to the figures being slightly off due to the recent US Government shutdown. The month before has been particularly impressive with 311k jobs created which was very positive news for the US economy. On Friday we also saw wage growth data, there was...
Pound vs Dollar: How will next week's vote on May's deal impact the GBP/USD exchange rate?

Pound vs Dollar: How will next week’s vote on May’s deal impact the GBP/USD...

Next week could be very busy for Sterling exchange rates as the next meaningful vote on UK Prime Minister May's deal will take place. It's expected to be held on the 12th, with speculation mounting as to what could happen to the Pound in the event her plan is voted in favour of, or against again. The Pound is the best performing major currency of 2019 so far and some substantial gains have been made, with GBP/EUR trading around a 22-month high and GBP/AUD trading...
Brexit, EU interest rate decision and non farm payrolls to influence cable.

Brexit, EU interest rate decision and non farm payrolls to influence cable.

This week the UK Attorney General Geoffrey Cox has been in Brussels in a bid to achieve further concessions from the EU. To think that the Attorney General was going to return with a set timescale for the backstop was unrealistic, however to think he may have returned with confirmation that there will be an independent panel if the UK request to leave the EU whilst in the backstop I actually believe was a fair request. This weekend the negotiations will continue, and Monday morning...
Potential for another US interest rate hike and the impact of the UK's meaningful vote next week

Potential for another US interest rate hike and the impact of the UK’s meaningful...

The US Dollar has continued to fight back against the Pound this week and has already moved by 2 cents during the last few days or the difference of £2,400 on a currency transfer of USD $200,000. This movement demonstrates how volatile the currency markets are and highlights the importance of being kept up to date with a currency broker. After seeing some indifferent economic figures Stateside the data published yesterday showed an improvement in the services sector of 59.7 from 56.7 compared to the previous...
Pound to US Dollar forecast: Progress in US/China Trade War

Pound to US Dollar forecast: Progress in US/China Trade War

Could there be an end in sight for trade tariffs? It has now been confirmed that the Trump administration has agreed to postpone an increase in tariffs on Chinese imports as trade negotiations seem to be making progress. This has seen the US Dollar make gains against the Pound. The Wall Street Journal reported on Sunday that the two countries are close to the final stages of talks. If this is confirmed it will likely result in further US Dollar strength. If you have a trade...
Pound US Dollar Forecast: With Brexit less than 4 weeks away what will happen to GBP/USD rates?

Pound US Dollar Forecast: With Brexit less than 4 weeks away what will happen...

Over the last few days it appears as though the talks between the US and China are improving and this could mean an agreement is reached in the near future. Part of the new agreement means that China will have to buy US based agricultural goods as well as reducing costs for American companies based in China. The US Dollar marginally strengthened against the Pound towards the end of last week and if the talks conclude this could provide the Dollar with further strength against the...