Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

GBP/CAD rates drop more than 1.5 cents!

Energy prices rebounded today after taking a further hit last week with the lifting of Iranian sanctions. But prices lifted as indications of the future oil flood from Iran were overrated. Brent moved back up 94 cents to $48.92. This significantly strengthened the Canadian Dollar against most major currencies. The move may even have brought rates back below 2.01 but some strong data emerging from the UK economy halted the slide in GBP/CAD rates. Mortgages in the UK were up, showing significant consumer confidence in...
Pound to Euro Consolidates Above 1.12 Despite Increased Fear of No Deal Brexit

UK GDP figures come in stronger than expected, GBP/CAD rates spike back up

We are back to where we started on Monday, with GBP/CAD rates holding back up in the high 2.02's following a strong showing by the UK economy in the recent release of GDP figures for the second quarter of 2015. Between April and June initial figures show that the UK economy grew by 0.7%...a surprise as recent figures had shown a contraction last month in certain sectors of the economy, such as retail. Because markets were expecting a poor showing for Sterling, rates journeyed down...
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...
Will Pound to Euro Rates Gain in September?

Quiet week for Data

This week the only significant release of data to give us a glimpse into the Canadian Economy will be on Friday, where GDP figures for June will be revealed. Until then GBP/CAD, EUR/CAD and other CAD pairings will be governed by events outside of the country. Following surprisingly goodretail sales figures for the Canadian economy last week, growing twice as fast as analysts had expected, GBP/CAD rates shot down to 2.01 and have since settle just above 2.02. This was also helped by the opposite...

Strong retail data sees GBP/CAD rates tumble!

CAD strengthened yesterday following the surprising growth in their retail sales sector. In a single month the sector grew by 1%, half of which was a growth in car sales due to cheap fuel. Due to the further worsening of oil prices, many who were waiting to buy a car could move on this, because they were more confident with handling the long-term costs involved. Specifically concerning GBP/CAD rates, this was a fantastic day for CAD sellers. While the Canadian retail sector expanded, the opposite...
Pound to Euro Consolidates Above 1.12 Despite Increased Fear of No Deal Brexit

*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.
GBP to CAD Rate: Sterling Gains Against the Canadian Dollar Ahead of Bank of Canada Statement

CAD value currently stable

CAD has found stability following the BOC's pre-emptive decision to deploy a rate cut. This was hoping to safeguard the economy from the effects of historically low oil prices, worsened by the expected glutting effect once Iranian oil becomes available for global purchase. The only slight spike has been by about a Cent for GBP/CAD rates following the announcement yesterday that the Bank of England may consider an interest rate hike as early as November (data permitting). So we are faced with extraordinary buying opportunities, and...
How Is COVID-19 Effecting GBP to CAD Exchange Rate?

GBP/CAD rates hovering just above 2.0

GBP/CAD Rates have dipped into the low 2.01's this morning before recovering a little higher. It seems those holding CAD are skittish and jumping on any slight improvements in rates in a bid to sell off the strikingly weak currency. This seems to be the only factor which is keeping rates at 2.02. The muscle behind much of the rates movements recently has been the current strength of Sterling. While some of this is deserved with fantastic employment and growth figures, much of this is...
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...