GBP EUR Looks to Employment Figures for Support

Will the GBP/CAD exchange rate fall as low as 1.50? (Joseph Wright)

With GBP/CAD trading at a 3 year low around the 1.61 mark and a number of issues, mostly Brexit related, applying pressure to the Pound I think it's likely that we'll see further Sterling weakness as opposed to a recovery. With numerous prominent European figures coming out and reiterating their preference for a 'Hard Brexit' whereby the UK loses access to the single market, and the EU's policy of free movement of people isn't affected, the likelihood of a sudden Sterling rebound is becoming all...
Pound Stronger vs Canadian Dollar this Morning

GBP/CAD falls again as ‘Brexit’ fears begin to weigh on the Pound once again...

The Pound has fallen across the board once again today as Brexit fears have once again begun to instill fear within financial markets. The Pound had been gaining in value towards the end of last month and also at the beginning of this month, but that trend has now been reversed. The catalyst for this decline seems to be the most recent Inflation Figure released by the Office for National Statistics which showed that inflation is currently at 0.6% which was below their expectations. It's now...
Pound to Canadian Dollar Drifts Lower as Global Sentiment Improves

When Do I Trade GBP/CAD? (Matthew Vassallo)

GBP/CAD rates have dropped over the past week, with a run of inconsistent UK economic data handicapping any further Sterling advances. The pair are now trading near 1.72 on the exchange and as I eluded to in my previous posts, the Sterling strength seen earlier this month proved not to be sustainable. As such, any clients who did not protect their positions will now be questioning whether we will see a recovery over the coming weeks. Whilst it is very difficult to predict exactly how...
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

Sterling continues to rebound against Canadian Dollar as oil softens (Joseph Wright)

The forecasts for future prices of oil are weighing on Canadian Dollar strength at the moment, as although the medium term trend for GBP/CAD has been downward, over the past 5 or so trading days we've witnessed a revival in Sterling's value with the currency gaining around 5 cents. This improvement for Sterling sellers has fallen in line with the oil price as the two are closely correlated, due to oil being the biggest export of Canada. The Canadian current deficit is also becoming a major...
Pound to Canadian Dollar Outlook: BoC Interest Rate Cut Bets Soar as Oil Prices Sink CAD

Will an oil sell-off wipe out the Canadian Dollars recent gains? (Joseph Wright)

We've written extensively about the relationship between oil and the Canadian Dollar on this blog before, and this month that relationship has really been a talking point as the price of oil dominates financial headlines and CAD has experienced a volatile month. Crude oil prices have risen 15% in August, mostly off the back of speculation that OPEC members will reduce output but also a weakening US Dollar has boosted oil's demand as the commodity is priced internationally in US Dollars. The Canadian Dollar has spent...
GBP EUR Looks to Employment Figures for Support

CAD continues to go from strength to strength (Joseph Wright)

The Canadian Dollar has continued to climb in line with the improving oil price, as Sterling finds itself in the unenviable position of August's biggest loser of the major currency pairs. The Canadian Dollar is closely correlated to the value of oil as it's the country's biggest export, so with oil recently hitting a one month high it's no surprise to see the Loonie posting gains, and I think it's worth noting that CAD has gained on the USD for around 6 consecutive trading sessions...
Oil Prices and Brexit Casuing Volatility for Pound to Canadian Dollar Exchange Rates

When will Sterling Recover? (Daniel Charles Johnson)

We have seen Sterling fall in value significantly against all major currency pairings following the EU referendum and we have seen further falls following the Bank f England (BOE) interest rate decision last Thursday. The base rate was dropped from the already record low of 0.5% to 0.25%. and further Quantitative Easing (QE) was also introduced to the value of €70bn. QE is essentially pumping money into an economy in order to stimulate growth. It traditionally weakens the currency in question. Apologies for the...
GBPCAD Rates: Lack of Faith in the Pound Highlighted by Oil Crisis?

GBP/CAD Rates Marooned Under 1.75 (Matthew Vassallo)

GBP/CAD rates remain marooned under 1.75 on the exchange, with the Pound struggling to continue its recent advances. The pair are current trading around 1.73 but despite yesterday’s better than expected UK Gross Domestic Product (GDP) figures, Sterling struggled to sustain this improvement. The UK economy remains extremely fragile in the eyes of investors and I cannot see any major improvement until we have a clearer picture of how, and when the UK intends to facilitate its exit from the EU. We also have...
GBP EUR Slumps as British PMI Data Disappoints

Canadian Dollar due for more strength? Are we about to see a breakthrough? (Daniel...

Oil prices have been particularly volatile of late and this has been impacting the price of the Canadian Dollar. Many analysts are now expecting to see the Canadian Dollar have a good run of form. For the first time in three years the Canadian Dollar is trading higher than it was a year earlier which suggests to me that confidence may be rising. I feel that we may be starting to see oil and the loonie turning a corner and although we do have a...