Pound to Canadian Dollar Outlook: Investors Favour Upside Following GBP Strength Boost

GBP/CAD – Sterling Falls in Value (Daniel Johnson)

Brexit Fears cause the Pound to drop Theresa May stated over the weekend there was the probability of a hard brexit and the Pound has fell against the Canadian Dollar as a result. I am not so convinced. The key market mover on the horizon is the Supreme Court Judgement on whether parliament will get to vote on the triggering of Article 50.  If parliament do get the vote there is the probability of a soft brexit which should see the pound strengthen. A hard brexit...
Pound to Canadian Dollar Outlook: Investors Favour Upside Following GBP Strength Boost

What can we expect for GBPCAD rates in 2017?

The pound is likely to struggle in 2017 but what about the Canadian dollar? The GBPCAD rate has been volatile in 2016 and I expect this to continue in 2017. Two of the main issues on this currency pairing will remain in 2017, that is the Brexit and the price of Oil. These two issues will continue to dominate and influence the GBPCAD exchange rate. Understanding just what happens on these events will help determine what kind of exchange rates we see moving forward....
Will the GBP Recover Against the EUR?

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...

Another Volatile Day for GBP/CAD Exchange Rates! (Matthew Vassallo)

It’s been another volatile day for GBP/CAD exchange rates, with approximately two and a half cents movement on the pair during Thursday’s trading. Sterling received a welcome boost this morning following apparent comments made by Boris Johnson, regarding the free movement of people within the UK following our upcoming Brexit. This immediately gave the Pound a boost, with GBP/CAD rates hitting 1.6980 at today’s high. Johnson was quick to speak out against this and claimed he had in fact never made the statement and the...
Will the GBP Recover Against the EUR?

Is an Interest Rate Cut on the Horizon in Canada? (Daniel Johnson)

There is speculation the Bank of Canada (BoC) are considering cutting interest rates at the next meeting due on 7th December. BoC governor Stephen Poloz is due to speak during the early hours and any hint of a change in monetary policy will no doubt send traders into a frenzy. With a rise in oil prices, Canada will want to be at the forefront of supply and a rate cut would certainly assist in making Canada's oil reserves more attractive. OPEC are currently in meetings in...
Pound to Euro Exchange Rate: EUR Slumps as Number of COVID-19 Cases in Europe Rises

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...

Will GBPCAD rates hit 1.70?

Many Canadian dollar buyers have seen the rates improve quite nicely in the last week with exchange rates now at highs approaching 1.70, the big question for CAD buyers with pounds is will this get hit anytime soon? I would be approaching the market with a cautious approach as we could not rule out a 1.70 but there is plenty that could move the pound and see rates fall lower. My personal explanations for any fall would be down to the UK struggling to establish...
The Canadian Dollar Celebrates USMCA Deal but Investors Are Cautious Following Poor Jobs

What will Affect the Canadian Dollar this week? (Daniel Johnson)

Key Data Releases this week Housing Starts 14.15 Tuesday 8th November Housing starts are released by the Canadian mortgage and housing corporation. It is a measure of how many of new single family homes and commercial buildings have been constructed. It is a barometer as to the health of the Canadian housing market. It can be considered to be a measure of the Canadian economy as a whole due to the housing starts' sensitivity to changes in the business cycle. It will be compared to last years...
Will the GBP Recover Against the EUR?

GBP/CAD Rates Continue to Slide (Matthew Vassallo)

GBP/CAD rates have levelled out over the past week following some heavy losses earlier this month. GBP/CAD rates dropped by almost 10 cents, following UK Prime Minister Theresa May’s comments regarding the triggering of Article 50 early next year. Whilst we knew this was coming the timeline was shrouded in uncertainty and the confirmation rocked the markets and sapped investor confidence, which in turn caused the Pound to lose value. We did see a mini recovery for Sterling earlier in the week, which was halted following...
Will the GBP Recover Against the EUR?

Buying Canadian Dollar rates up and preparing for massive swings ahead of UK growth...

Buying Canadian Dollar rates have seen a boost this morning ahead of the UK’s key data release over the last few months, growth data. It has been a long wait to get a macro-view of just how much the Brexit vote has affected the UK economically since June 24th. The economic shock of the Brexit is something which has been in the news heavily over the past few months, but in the past it has been impossible to quantify wholly for markets to get a...