How Is COVID-19 Effecting GBP to CAD Exchange Rate?

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 Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

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...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

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 Drifts Lower as Global Sentiment Improves

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...
GBP EUR Exchange Rate: Week in Review October 9th

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...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

Where GBP/CAD Exchange Rates? (Matthew Vassallo)

GBP/CAD rates have spiked over the past week, with Sterling benefitting from improved run of UK economic data. The Pound gained some traction last week following strong Manufacturing & Construction figures, along with positive Services data. This has led investors to believe that we may not avoid the recession many through the UK would fall into around the turn of the year and this in turn may cause the Bank of England (BoE) to reconsider a further interest rate cut. Whilst it is unlikely...
Pound to Dollar Rate Pushed Higher by Risk-on Mood

Is Sterling set for a further fall against CAD? (Daniel Charles Johnson)

Brexit has caused a dramatic fall for Sterling against the majority of major currencies. The International Monetary Fund (IMF) warned yesterday that if trade negotiations between the UK and the EU do not go smoothly there is the possibility of Britain falling in to a recession. I am not pessimistic. I think now we have a new cabinet in place and Theresa May at the helm I think we will see a gradual recovery for the pound. She is due to meet Angela Merkel...
GBP EUR Exchange Rate: Week in Review October 9th

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...
GBP EUR Exchange Rate: Week in Review October 9th

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...
Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

Will GBP/CAD Hit 1.90 Ahead of EU Referendum? (Matthew Vassallo)

GBP/CAD rates hit 1.8743 at today’s high, before slipping under 1.87 by close of European trading. The pair have remained fairly static this week, despite gains for Sterling against most of the other major currencies. It seems as though the markets are undecided which way to go, ahead of next month’s EU referendum and with mixed data coming from both economies, we may find the pair range bound between 1.85-1.90 over the coming weeks. Those clients holding Sterling will be concerned about the damage a...