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

CAD Decline Continues (Matthew Vassallo)

GBP/CAD rates have spiked over the past month, with the CAD coming under increasing pressure. The Pound has benefitted from two recent polls, which indicated the Remain camp now has a clear lead ahead of next month’s EU referendum. This is a key date for investors and is likely to shape Sterling exchange over the coming months. If we do stay it is likely to solidify the Pound’s position but if we were to leave then this is likely to knock Sterling’s value in the...

Canadian Dollar falls dramatically as oil price collapses further

The Canadian Dollar came under sever pressure yesterday with the sustained drop in oil price which was exaggerated on Wednesday this week to the lowest levels since 2009. GBP/CAD rose to 3 month highs, EUR/CAD is the same, and USD/CAD is now at fresh 10 year highs. This oil price fall is a dramatic reaction following a recent meeting for OPEC which was designed to lower oil production worldwide and help to bring prices under control. The announcement of this meeting was originally why oil prices...
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 Euro Consolidates Above 1.12 Despite Increased Fear of No Deal Brexit

USD/CAD and EUR/CAD exchange rates the focus for the day

The long awaited US interest rate decision will be released today.  With the US being the largest economy in the world, and a significant proportion of of global debt being denominated in US Dollars, this decision will likely affect all major currencies. For the Canadian Dollar, the two major currencies in question which will be swinging wildly as a result, will be USD/CAD and EUR/CAD (to a lesser extent GBP/CAD). USD/CAD has already come under pressure and may fall below 1.32 soon, and EUR/CAD however,...
Will Pound to Euro Rates Gain in September?

Bank of Canada predicted to hike rates (Daniel Johnson)

Is a Rate hike justified by the BOC? This afternoon is the Bank of Canada (BOC) interest rate decision. The expectations are that there will be a hike from 1% to 1.25%. Bank of Canada Governor, Stephen Poloz has stated a change in interest rate would be data dependent. If this is the case then  a rate hike should occur today. We have recently witnessed the best unemployment data in four decades. Personally, I am of the opinion a rate hike in the current climate is...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

GBP/CAD rates holding steady in the 1.94’s

Yesterday's data on Durable Goods Orders in the US came in terribly, which weakened the Canadian Dollar enough to bring rates back up into the low 1.94's and remain there. Durable Goods Orders are a measure of bulk and long-term purchases that can't be filled immediately by the supplier. Such as 20,000 cars or 15 Boeing Planes. Due to the delay in producers being able to supply these orders to the consumer, those who are purchasing must guess what demand would be like in the...
Pound Stronger vs Canadian Dollar this Morning

What will move GBP/CAD this week? (Daniel Johnson)

  Tuesday 31st January - Canadian GDP & Manufacturing PMI Tomorrow will see the release of Canadian GDP. Gross Domestic Product is released by statistics Canada and is a measure of the total value of all goods and services produced by Canada. GDP is a broad measure of Canadian economic health and activity and if there is a move against expectations expect volatility on GBP/CAD. Thursday 2nd February -  UK Data - PMI Construction, BOE Asset Purchase Facility, Interest Rate Decision and Carney's Speech First up on Thursday we...
Pound to Euro Exchange Rate Outlook: Busy Week Ahead for GBP to EUR Rates

Surging oil prices continue to cancel out Sterling strength (Joseph Wright)

With Sterling’s recent bullish run against most of the majors beginning to slowdown, the recent strength of the Loonie is now easily visible, as this week GBPCAD is up just 0.13% whereas the Pounds gains against most other majors are considerably more significant. Sterling’s fortunes have swung recently along with the ‘Brexit’ polls which now point to a ‘Remain’ lead. This sway in the polls has been very well received within currency markets, as GBPEUR is now almost trading at a 3 month high whereas...
Will Pound to Euro Rates Gain in September?

GBP/CAD – Volatile Day

Yesterday ended up largely as a non-event for the value of the CAD. No significant change was seen in the value of the import and export sector, showing that they are weathering the storm of low oil prices well, but not enough to bolster Canadian Dollar value. GBP/CAD rates were on the verge of hitting 2.06 this morning, with 'Super Thursday' today in the British Market expected to cause significant volatility for all GBP pairings. Super Thursday refers to the interest rate decision in the UK....