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

GBP/CAD Rates surge following ‘Agreekment’ (Daniel Wright)

GBP/CAD rates have breached fresh 8 year highs today - hitting 1.986 briefly on the markets before falling back down to 1.975 by the close of UK trading. This stunned market onlookers, and honestly it took a while for most of us to decipher why rates jumped up so high. Firstly, oil prices tumbled and they are expected to tumble more, as Iran nuclear deal nears. Once the sanctions are lifted against Iran when they agree to halt their nuclear weapons program, prices are expected...
Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

News over the weekend sees Sterling trading higher on markets

GBP/CAD rates have crept back up into the low 1.97's as talks concerning the Greek crisis have dragged on through the night on Sunday. Today it is thought that Greek banks will completely run out of cash. Hence, the sudden urgency or some form of agreement between all parties. Over the past few months GBP has been gaining strength regularly when Greek talks deteriorate, as money flies into 'safe haven' currencies and out of the volatile Euro. As such GBP/CAD trading levels today will be entirely...
Pound Stronger vs Canadian Dollar this Morning

GBP/CAD surge today a lesson in market hysteria (Joshua Privett)

Today a long morning of panic selling for the Canadian Dollar emerged. Today at 13:30 GMT was the release for Canadian unemployment data. It seems a lot of investors bet that the data would come in much lower than expected after a long run of low oil prices which have hammered the Canadian economy. Before the data release many were selling off their Canadian Dollars in hordes as people were worried that the initial tick down of the rates was suggestive that someone knew something they didn't....
Pound to Euro Consolidates Above 1.12 Despite Increased Fear of No Deal Brexit

GBP/CAD rates fall as Sterling loses value against most currencies

It seems that the correction happened sooner than expected. However, it is not by much. We are still comfortably in the 1.97's for GBP/CAD rates. Sterling's fall is mainly due to the tempting buying opportunities available now across the board. So those holding Sterling are buying up other currencies while they are cheap, which in turn lowers those rates as the purchased currency strengthens. This is nothing to do with positive progression in the talks between Greece and her creditors. Overnight there was news announced about the...
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...
How Is COVID-19 Effecting GBP to CAD Exchange Rate?

GBP/CAD rates hit 1.96 after Greek vote (Joshua Privett)

The amount of money flowing into the UK Pound at the moment is incredible. UK markets have not even opened yet, but from Japan across to Eastern Europe the markets which have been open are quickly selling off their Euros in a frenzy following the referendum in Greece. In a resounding 61% majority to reject the terms of the bailout set out by Greece's creditors, the stage has been set for the latest set of talks to see if Greece will stay in the...
Will Pound to Euro Rates Gain in September?

Relatively quiet day for data releases affecting GBP/CAD has markets looking ahead

As the title suggests we are expecting a relatively quiet day on the markets in general for rate movements. The last thing I will do is discount the possibility of surprises. Over the past few months the markets have been riddled with them. Today is also one of the last days before the referendum this weekend in Greece can be halted in favour of a deal between Greece and its creditors. Should this be achieved I expect GBP/CAD rates to fall following the sudden...
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...
GBPEUR: Chances of No-Deal Force GBP to Surrender Gains

CAD loses ground against all major currencies yesterday with falling oil prices

The losses were slight but widespread. Most were expecting a rise in crude oil prices yesterday as crude oil stocks had dropped for an 8th week in a row, suggesting a removal of the oil glut and an increase in demand. However, this was matched by record output in the U.S of 9.6m barrels per day. So while the U.S. market was increasing it seems they will likely be buying their own stock rather than adding to demand for the overseas markets, which is...