Pound to Euro forecast Sterling slides against major currencies as Brexit negotiations stall

CAD Forecast – Canadian Economic Growth to Slow in 2018 (Matthew Vassallo)

The CAD is under pressure this week losing ground against a host of the major , with these losses particularly apparent against both Sterling and the USD. Wednesday’s interest rate hike by the US FED and what seems like a significant breakthrough in Brexit talks, has certainty had a detrimental effect on the CAD. Investors have been moving their funds away from the Loonie all week, with its value decreasing at a rather alarming rate. Despite new head of the FED Jerome Powell remaining fairly dovish...
Trade Deficit Falls, but does not match expectations

Bank of Canada members to set the scene for the Canadian Dollar as the...

Following on from a fairly flat day for Canadian Dollar exchange rates we have a few points of note for you to keep an eye out for if you have Canadian Dollars to exchange in the near future. Two members of the Bank of Canada are speaking today, Governor Poloz is speaking shortly and later on in the trading day we also have BOC Deputy Lane speaking later in the afternoon. Poloz is not expected to raise any large movements, as he speaks at the unveiling of...
Pound to Euro forecast Sterling slides against major currencies as Brexit negotiations stall

CAD/USD and CAD/GBP continues to decline

Its been a slow week for the Canadian dollar vs the US dollar as US stock markets tumbles throughout Monday and early Tuesday morning. Economists are trying to put their finger on why the stock market crashed and many are suggesting the recent jobs data in the US coupled with the incoming new Chair of the Fed Jerome Powell are the main reasons. It now looks likely that the Fed will raise interest rates at their next meeting in March, and investors are therefore selling...
Pound to Canadian Dollar exchange rate Global trade tensions and Brexit to drive GBPCAD rates

Will GBPCAD rise above 1.80 or sink below 1.70?

GBPCAD rates have improved to some of the best levels since the Referendum as the pound is looking more confident going into the Brexit negotiations. Overall expectations for the pound are much improved as investors eye a softer Brexit which should retain access to the Single Market or the Customs Union. Whilst the Canadian dollar may well strengthen owing to some fundamental reasons which drive its performance, sterling looks to have the upper hand for now. Oil prices and the prospect of further interest rate...
Pound to Canadian Dollar rate hits 20 month low could further falls be in store for the Pound

Canadian Dollar Strength on Expectation of Rate Increase

The Canadian dollar is strengthening at present after a recent wave of Canadian economic data has impressed the markets. The Canadian economy appears to be performing very well and there is a strong chance that there may be an interest rate increase at the next meeting. The markets are beginning to price in the prospect that there could be a rate hike later this week. CAD USD has now hit its highest level for two years and the combination of a heathy Canadian economy and...
Pound to Canadian Dollar rate hits 20 month low could further falls be in store for the Pound

Canadian Dollar continue to rise with increased business confidence (Joshua Privett)

The Canadian Dollar has strengthened heavily recently, reach 1 year highs against a floundering US Dollar and over a 4 month high against the Pound. The trend also seems set to continue, so Canadian Dollar buyers may be wise to look at getting their skates on. The view is that the Canadian economy is gathering speed - growing in areas outside the oil industry, and raised interest rates twelve days ago for the first time since the financial crisis. According to Bloomberg there is almost an...
GBPEUR rate remains steady as markets await the Autumn Budget

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...
GBPEUR rate remains steady as markets await the Autumn Budget

Buying Canadian Dollar rates still softening ahead of Governor Poloz’s speech (Joshua Privett)

Due to the sheer volume of information and events hitting the wire at the end of this week in the UK - the Queen's speech vote, Parliamentary debates on the new manifesto - buying Canadian Dollar rates have been largely absent much influence from Canada itself. This should all change today with a speech from the Bank of Canada Governor Stephen Poloz. The next interest rate decision in Canada is on July 12th, and markets are keen to know whether a rate hike will emerge. In...
Pound to Canadian Dollar outlook Will Sterling struggle against the Canadian Dollar?

How Has Tory/DUP Deal Affected GBP/CAD Exchange Rates? (Matthew Vassallo)

Yesterday we had confirmation that Theresa May’s lead Tory party had finally come to an agreement with the controversial Northern Irish DUP party, to form a working UK government. Whilst details about the arrangement were vague, it was confirmed that Northern Ireland will receive an additional 1 billion in funding, news which has caused unrest among many due its perceptive disparity. However, the announcement has helped to curb further losses for the Pound following its recent downturn. The Pound has been marooned under 1.70 against the...
Pound to Canadian Dollar rate hits 20 month low could further falls be in store for the Pound

What can we expect next for GBPCAD rates?

The pound looks like it could fall further with the outlook ahead for the UK very shaky indeed. Currently we have a minority Conservative government and the Queen's speech which was a much watered down version of the Conservative Manifesto has failed to set the pound alight. The price of Oil is a major factor on Canadian dollar exchange rates and the price of Oil fell yesterday, once again on more global concerns about oversupply. If you need to buy Canadian dollars I think...