Pound Sterling Forecast – Could the Pound Fall Lower Still?

Volatile day on GBPCAD exchange rates!

Yesterday saw some big swings on the GBPCAD exchange rate reminding us how important it is to be prepared on the currency markets of any unexpected twists and turns. Just as the pound was having a very bad day and GBPCAD to 1.6780 the Bank of England Governor Mark Carney dropped some hints that he might wish to raise interest rates sooner in the UK than had previously been believed causing the rate to rocket to, by 3 hours later we were up at...
Pound Sterling Forecast – Could the Pound Fall Lower Still?

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

GBP/CAD Rates holding steady

Positive data released this morning for the UK industrial complex pushed GBP/CAD rates back into the 2.02's and verging on 2.03. UK construction and industrial sectors been one of the worst performers recently for the UK economy, which is why the first suggestion that this may be changing has caused Sterling strength. However, this was short-lived. Strong Durable Goods orders in the US have bolstered confidence in the US economy and by association the Canadian Dollar . Durable Goods are items which take a long...
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...
Pound to Euro Surges to 3-Week High

*Breaking News* GBP crashing

Sterling has already fallen more than 1.5 Cents against the CAD in the space of 5 minutes. GBP/CAD rates are now just above 2.02. Look to post below - If you have CAD to buy do so now, do not wait until later releases today to save the current buying levels. Call 01494 787 478 for a free quote on your transfer.
Pound to Euro Exchange Rate Outlook: Busy Week Ahead for GBP to EUR Rates

Possible “Brexit” causes volatility on GBP/CAD (Daniel Johnson)

As the EU referendum draws closer we are seeing increased volatility on GBP/CAD. We have seen GBP/CAD range from 1.84 to 1.92. Current levels are looking very favorable for CAD sellers, the best levels in the last month. This is predominantly due to the Leave camp gaining momentum in the referendum. Personally I do not think these levels will remain. With Nicola Sturgeon going up against Boris on Thursday night I think we may see a swing in favor of the remain camp and subsequent polls...
Pound Sterling Forecast – Could the Pound Fall Lower Still?

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

What issues could impact the Pound to Canadian Dollar rate? (Joseph Wright)

The Pound has gained almost 10 cents against the Canadian Dollar in just the last 2-weeks, as the Pound continues to rise on the back of the election called by Theresa May, the UK Prime Minister. I expect the election and speculation surrounding it to impact Sterling exchange rates over the next few months, due to the differing plans and outlooks from the UK political parties regarding the Brexit. As it stands the conservatives are favorites to win come the election in June, and that...
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...