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...
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 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...
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...
Pound to Euro Consolidates Above 1.12 Despite Increased Fear of No Deal Brexit

Pound to Canadian Dollar rates still rising (Joshua Privett)

Like the US Dollar the Canadian Dollar is currently suffering against the Pound, with Pound to Canadian Dollar exchange rates breaching new 5 month highs. The Pound's rally, if you haven't been in tune with the news this week, has been attributed to the sudden and euphoric announcement of an election in the UK. Contrary to what many are looking at, this rally is not simply because markets prefer a Conservative government, which is currently performing 24 points above what Labour is managing to put up...
Pound Stronger vs Canadian Dollar this Morning

CAD Boosted By Oil Gains And USD/GBP Weakness (Joseph Wright)

The Canadian Dollar spiked upwards yesterday for a number of reasons, gaining just under 2% against the US Dollar and over half a per cent against the British Pound. As many readers will already be aware, the Canadian Dollar is heavily pegged against the value of oil as Canada is one of the world’s largest exporters of oil, therefore big swings in its value can have a profound effect on the value of the Loonie (Canadian Dollar). Yesterday the value of oil was boosted after...
Pound to Euro Exchange Rate Outlook: Busy Week Ahead for GBP to EUR Rates

GBP/CAD rates flirting with the 2.0 mark

GBP/CAD has been on a steady decline throughout November following the announcement that the UK would be delaying any interest rate rise until 2017 at the beginning of November.  Little of these movements is to do with Canadian Dollar strength. There have been improvements in unemployment and the housing market over in Canada, however, with oil prices trending negatively throughout November to $42 per barrel, this is not the main force behind the shift on GBP/CAD. Much of the recent strength for the UK Pound has...
Canadian Dollar Suffers Seven-Week Low Following the Spread of the Coronavirus

CAD buying rates still low

CAD rates across the board, whether USD/CAD, GBP/CAD or EUR/CAD are still remaining stubbornly low ahead of the election on Monday - I have never seen this level of apathy towards an event which will affect the country for years to come. Especially when polls are close. There are three possible reasons for this, one of which has been touched on in earlier posts. The recent rises in oil prices have hailed a new confidence in the CAD which had previously been causing the consistence slides on...
Pound to Euro Outlook: GBPEUR Rates Reach 4-Week Interbank Highs

Canadian Dollar upside capped for the moment (Joseph Wright)

The Pound is on the rebound against the Canadian Dollar, which is quite a surprise when we consider that within the past few weeks it hit a new low of 1.55, during the flash crash just a couple weeks ago now. The feeling towards the Pound, and the UK economy in general has turned for the better as the language surrounding ‘Brexit’ has softened somewhat. The situation was very much the opposite towards the beginning of last week and over that weekend, as European Leaders...
Will Pound to Euro Rates Gain in September?

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...