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

Bank of Canada members to set the scene for the Canadian Dollar as the...

Following on from a fairly flat day for Canadian Dollar exchange rates we have a few points of note for you to keep an eye out for if you have Canadian Dollars to exchange in the near future. Two members of the Bank of Canada are speaking today, Governor Poloz is speaking shortly and later on in the trading day we also have BOC Deputy Lane speaking later in the afternoon. Poloz is not expected to raise any large movements, as he speaks at the unveiling of...
Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

Canadian GDP (Growth) figures key for how we see CAD end the week

It has not been a great week for the Canadian Dollar against most majors, seeing a slight dip in value over the course of the week. The Canadian Dollar was actually the worst performing of all the major currencies on Tuesday and it does appear that investors have slight concerns on how growth figures (released tomorrow) are due to come out. Expectations are for month on month figures for December to post a figure of a mere 0.1% growth from 0.4% last time around, which would more...
Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

Trump could cause volatility on GBP/CAD (Daniel Johnson)

Trump causing trouble promising to increase oil production Trump's speech following the inauguration was very focused on taking firm control of the domestic economy. Part of the plan for Trump's "Let's make America great again!" If his plans come to fruition the Canadian Dollar could lose value. I think Sterling is still chronically undervalued against the Canadian Dollar. The main factor for the pound's fall is the uncertainty surrounding trade negotiations post Brexit vote. Sterling has rallied following Theresa May taking away some of that uncertainty...
Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

GBP/CAD rates catapulted back up to 1.95! (Joshua Privett)

A multitude of factors have come together today to allow the Pound to gain a further 2.5 cents against the Canadian Dollar in a single day of trading. To put this in perspective, between the high and the low of today a $200,000 purchase was £1,300 cheaper to achieve on a well timed transfer! Firstly, investors fearful of a volatile Greek crisis has moved into safer currencies such as Sterling, which has artificially boosted its value due to increased demand. This began immediately this morning. Secondly, disappointing...
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...
Pound to Euro Consolidates Above 1.12 Despite Increased Fear of No Deal Brexit

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

Canadian Dollar upside capped for the moment (Joseph Wright)

The Pound is on the rebound against the Canadian Dollar, which is quite a surprise when we consider that within the past few weeks it hit a new low of 1.55, during the flash crash just a couple weeks ago now. The feeling towards the Pound, and the UK economy in general has turned for the better as the language surrounding ‘Brexit’ has softened somewhat. The situation was very much the opposite towards the beginning of last week and over that weekend, as European Leaders...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

GBP/CAD – Sterling Falls in Value (Daniel Johnson)

Brexit Fears cause the Pound to drop Theresa May stated over the weekend there was the probability of a hard brexit and the Pound has fell against the Canadian Dollar as a result. I am not so convinced. The key market mover on the horizon is the Supreme Court Judgement on whether parliament will get to vote on the triggering of Article 50.  If parliament do get the vote there is the probability of a soft brexit which should see the pound strengthen. A hard brexit...
Pound to Euro Outlook: GBPEUR Rates Reach 4-Week Interbank Highs

NAFTA breakdown has potential to weaken CAD (Daniel Johnson)

Trump plays hard ball on new NAFTA deal Donald Trump has decided to renegotiate the North American Free Trade Agreement (NAFTA) which has been in operation for over twenty- three years. Trump believes Mexico and Canada have benefited from the agreement, but hasn't been as lucrative as it should be for the United states. Trump believes NAFTA was a disaster and went as far as to say it is "the worst trade deal in history." Mexico, Canada and the US have now sat down to renegotiate the...
Pound Stronger vs Canadian Dollar this Morning

CAD value weighed down by China

Overnight in the UK, markets were shocked to hear that China had made moves to actively devalue their own currency - the Yuan. In the past, China has always countered stagnation in its own economy by actively pumping capital into the domestic market though infrastructure projects and investments. This historic shift away from that policy, which is instead targeted at the global (external) market by making its exports more competitive, shows that the Chinese economy may not have the capital reserves it had previously to...