Pound to Euro Reaches 2-Month High

Canadian Dollar rates on back-foot

The Canadian Dollar starts the month on a poor footing following a month where oil prices reached new highs, only to be erased in the latter half of October. The Canadian Dollar still had a net-gain against the Euro and Pound Sterling last month and finished relatively level with the USD, butt the initial gains proved to be only a short-term phenomenon. Many had hoped the recent rally for oil was going to be sustained. Leaders for oil exporting nations as well as major multinationals were...
Pound to Euro Reaches 2-Month High

OPEC Deal causes Oil prices to soar (Daniel Johnson)

Oil reaches an 18 month High The Canadian Dollar is heavily influenced by oil prices due to Canada's significant reliance on oil as an export. Oil prices reached an 18 month high today. This is due to a deal between OPEC and other large exporters of oil to cut production coming into action on New Years Day. The oversupply of oil over the last few years has caused a catastrophic drop in oil price. The Canadian Dollar will no doubt benefit from the deal. If you...
Pound to Euro Reaches 2-Month High

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...
The pound to euro exchange rate was flat in early Tuesday trading after the pair erased an early week dip.

GBP/CAD Rates Fall as Oil Prices Rise (Matthew Vassallo)

GBP/CAD rates have fallen over the past week, with the CAD gaining over three cents at the high. The pair were trading North of 1.70 but following Sterling’s decline trades today have been going through around 1.67 on the exchange. The CAD has benefited from the steady rise in oil prices of late, which has helped to drive its value up. Due to the Canadian economies heavy reliance on the export of their crude oil, the markets will always react to the fluctuation in oils...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

Where GBP/CAD Exchange Rates? (Matthew Vassallo)

GBP/CAD rates have spiked over the past week, with Sterling benefitting from improved run of UK economic data. The Pound gained some traction last week following strong Manufacturing & Construction figures, along with positive Services data. This has led investors to believe that we may not avoid the recession many through the UK would fall into around the turn of the year and this in turn may cause the Bank of England (BoE) to reconsider a further interest rate cut. Whilst it is unlikely...

Politics and Brexit hold back the Pound (Daniel Johnson)

CAD moves from strength to strength The Canadian Dollar continues to strengthen against the pound. There has been a recent rate hike by the Bank of Canada (BOC) from 0.5% to 0.75% and there is the possibility of further rate hikes in the not too distant future. The Canadian economy is currently very strong with positive data across industries. Canada's primary export, oil is also in high demand following a cull in oil production from Organisation for Petroleum Exporting Countries (OPEC). OPEC have put in...
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

GBP/CAD rates rise alongside retail sales figures (Joshua Privett)

Canadian Dollar buying rates have journeyed back above the mid 1.8's following some strong retail sales figures for the UK economy. After two horrendous days for anyone considering buying a foreign currency who had previously been holding Sterling, the markets have begun to show a bit of life for Canadian Dollar buyers after losing 6 cents on buying rates across a few days of trading. The initial reason for the drop was increased support for the Leave camp in the run up to the Referendum. Markets...
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...
Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

When Do I Trade GBP/CAD? (Matthew Vassallo)

GBP/CAD rates have dropped over the past week, with a run of inconsistent UK economic data handicapping any further Sterling advances. The pair are now trading near 1.72 on the exchange and as I eluded to in my previous posts, the Sterling strength seen earlier this month proved not to be sustainable. As such, any clients who did not protect their positions will now be questioning whether we will see a recovery over the coming weeks. Whilst it is very difficult to predict exactly how...
Gbp to Cad Exchange Rate Hits a 1-Month High as Risk Appetite Returns to Global Markets

CAD – Calm before the storm

CAD rates have been relatively stable today ahead of what is expected to be a volatile week and month as we near the interest rate decision in the US on Thursday and Canada's election on the horizon. The first major event to affect CAD rates will be the interest rate decision for the US. It's too close to call. Recent data emerging from the US economy paints a strong picture. Unemployment at 5.1% certainly tops the list, but this is also occuring in a period...