GBP EUR Exchange Rate: Weekly Review December 4th  

Possible “Brexit” causes volatility on GBP/CAD (Daniel Johnson)

As the EU referendum draws closer we are seeing increased volatility on GBP/CAD. We have seen GBP/CAD range from 1.84 to 1.92. Current levels are looking very favorable for CAD sellers, the best levels in the last month. This is predominantly due to the Leave camp gaining momentum in the referendum. Personally I do not think these levels will remain. With Nicola Sturgeon going up against Boris on Thursday night I think we may see a swing in favor of the remain camp and subsequent polls...
GBP EUR Looks to Employment Figures for Support

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...
GBP EUR Looks to Employment Figures for Support

Sterling Strength Softens – Where Next for GBP/CAD Exchange Rates? (Matthew Vassallo)

Sterling’s early year run against the CAD has softened of late, with the Pound finding resistance around 1.65. The CAD has found support over the past week, with the pair now trading around 1.63. Much of the current market sentiment is being driven by the UK’s on-going Brexit saga and with further developments over the coming weeks, I expect this trend to continue. UK Prime Minister Theresa May is currently hoping the governments Brexit bill is passed through the House of Lords, which would allow them...
Gbp to Cad Exchange Rate Hits a 1-Month High as Risk Appetite Returns to Global Markets

Canadian Dollar swinging wildly

The Canadian Dollar has been swinging wildly today with multiple forces acting on the 'Loonie' due to current events and future expectations. Initially, the announcement of a 2.5% increase in oil prices following slowed drilling in the US was enough to bolster the Canadian Dollar  by more than a cent against Sterling and GBP/CAD rates fell to 2.045. USD/CAD also took a hit down to 1.318. However, there was also weakness for the CAD on most currency pairings as we await the speech this evening by...
GBP EUR Exchange Rate: Weekly Review December 4th  

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...
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...
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...

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

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....
Canadian Dollar Saved by Inflation Target Being Met but Outlook Looks Worrying

NAFTA deal still far from sewn up

US threatens non-approval on NAFTA deal if there is no firm proposal in place in three weeks. The North American Free Trade Agreement (NAFTA) is currently in the process of being renegotiated. NAFTA is a free trade deal between the Sates, Mexico and Canada. Trump has made very clear he is unhappy with the current deal and has called it "the worst trade deal in history." The results of the new negotiations could have huge ramifications fro the Canadian Dollar, the US is Canada's largest trading partner. If...