The Pound may have a better period coming up against the Canadian Dollar following the recent Bank of Canada monetary policy statement and press conference suggesting that further easing may have to take place in the coming months.
The Pound is starting to gather a little momentum following news that the Government in the U.K may not only be aiming for the ‘hard brexit’ approach which will settle investors ever so slightly for the time being.
There is now a chance that we may see Sterling break up closer to the mid 1.60s rather than dropping below the 1.60 level however as always with Sterling and the Canadian Dollar both involved you must be cautious if you are looking to carry out an exchange involving wither buying or selling Canadian Dollars in the coming weeks and months.
We have a little data out for the Canadian Dollar this afternoon including inflation data and Retail sales figures all at 13:30pm U.K time so we may be in for a busy end to the week for Canadian Dollar exchange rates.
If you are in the position where you need to buy or sell Canadian Dollars in the near future then it is well worth contacting me personally.
I can help you both with the timing of the transfer and getting you an extremely competitive rate of exchange when you do decide to go ahead. You can contact me (Daniel Wright) by emailing firstname.lastname@example.org with a description of what you need to do and a contact number, and I will be more than happy to contact you personally.
Yesterday the Canadian Dollar was the focal point of a stir in the currency markets, with GBP/CAD collapsing instantaneously before correcting back upwards following news of lowered growth forecasts for the Canadian economy.
In a mixed day for the loonie, its value initially surged following a further rally on oil prices suggestive of some stability returning to the sector. Before correcting backwards with the monetary policy statement from the Bank of Canada suggestive of a tentative outlook in the near future.
Oil prices have begun to rally with output beginning to dwindle and positive news of collective working together between major global supplies to cut drilling and fairly cut-back so that each retains market share.
We have been here before, three times actually over the past year. Talks continue to break down, particular due to the efforts of nationally owned companies who have the capacity to weather the storm of low prices and profits without investors to answer to, with the hope of gaining market share if companies go bust in the meantime.
So if you are holding Canadian Dollars I would not hold my breath that this year will continue to bring further opportunities.
Even the Bank of Canada is factoring in lower oil prices, with the downgraded outlooks for economic outlook in Canada coming out yesterday suggestive to markets of concerning outlook for the future.
GBP/CAD as a result recovered from its dip yesterday with conflicting reports from the current market and the future outlook from the people at the helm of the Canadian economy.
The Bank of Canada’s outlook should be suggestive of longer term trends on GBP/CAD. So Canadian Dollar holders may be wise to move sooner rather than later to seize rates while they still reside at multi-year highs.
I strongly recommend that anyone with a Canadian Dollar requirement, whether buying or selling should contact me on email@example.com to discuss a strategy for your transfer aimed at maximizing your currency return and to hear the options open to you to safeguard your transfer against any adverse drops.
I have never had an issue beating the rates of exchange on offer elsewhere, and these current buying levels can be fixed in place for anyone planning a foreign currency transfer in the near future and wish to protect yourself against any adverse affects.
You can also fill out the form below and I shall be in contact as soon as I am able to.
GBPCAD exchange rates have had a very volatile afternoon as we see the Bank of Canada announce the possibility of further moves in the future. The Oil price has also been a big factor on exchange rates as we see the market changes and investors seek to capitalise. The market expectations is for the CAD rates to fall further as sterling weakens on the Brexit uncertainty.
If you need to buy Canadian dollars then making some plans in advance is the best way forward, tomorrow is the latest UK Retail Sales which could be a key event to keep an eye on. Then in the afternoon we have the European Central Bank decision which could easily cause some big movements on the Euro which would impact risk appetite moving forward. If you have a currency transfer to make involving the pound or Canadian dollar then making some plans in advance is very important part of getting the best deal.
Anything can happen on exchange rates as the last few weeks show and it is all about being prepared to really help you get the best deals. If you have a transfer to make then why not speak to me about your plans? We can help with some of the very best rates on the market and all the information you need to make an informed decision.
For more information at no cost or obligation please speak to me Jonathan on firstname.lastname@example.org
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 the more unlikely in my opinion.
There are a number of economists and analysts expecting further falls in the Pounds value next year against a range of other currency pairs, and I think that those forecasts are based off of the issues the UK economy is likely to face.
One of those is Inflation, and today we’ve been provided with an insight of what’s likely to come as the weaker Pound is likely to drive up UK Inflation levels to what could become unhealthy levels.
On the Canadian side commodities are on the incline, with oil in the news often after recently hitting a 52 week high which impacted the CAD positively. Aside from the buoyancy towards the currency due to it’s commodity currency status the underlying fundamentals have given the Bank of Canada little to be concerned about when we compare the economy with many other major economies. It’s for these reasons that I’m expecting further falls for the Pound between the GBP/CAD pair.
If you are planning a currency exchange between GBP and CAD, it may well be worth your time getting in contact with me on email@example.com in order to ensure you make a well informed decision on when to make that particular transfer, as well as benefiting from highly competitive exchange rates from one of the UK’s leading foreign currency brokerages. Just provide me with a basic outline of your currency requirement and I will be back in touch with you as soon as possible.
Sterling vs the Canadian Dollar has hit its lowest level in 3 years as the fallout from both Brexit and Article 50 continues to have a negative effect on the value of Sterling.
Yesterday Bank of England deputy governor suggested that the Pound’s big fall since June has been a ‘shock absorber’ for the British economy and this has helped the economy from struggling since the vote to leave the European Union back in June.
He also claimed that having a flexible currency is also helpful to soften the blow of the vote.
Clearly the Bank of England are not too concerned about the fall of Sterling at the moment which signals to me that they could even look at cutting interest rates when their next meeting takes place in November.
Indeed, Sterling vs the US Dollar has fallen by 20% since the Brexit vote and it is only a matter of time before this starts affecting the British consumer. As so many of our goods purchased in the high street come from overseas this is likely to see the average basket of goods going up in the near future and this is likely to cause an issue for inflation which is what the Bank of England are most concerned about.
GBPCAD exchange rates have fallen to below 1.60 this week and I think we could see further falls during the course of this week depending on what happens with inflation this morning.
Having worked in the industry since 2003 I am confident of being able to offer you competitive exchange rates when buying or selling Canadian Dollars compared to using your own bank.
If you would like further information about the process or for a free quote then contact me directly and I look forward to hearing from you.
Tom Holian firstname.lastname@example.org
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The most important data announcement of the week will be on tomorrow at 0.930am. We will see the release of inflation data for the UK an due to Brexit this could be very influential on the currency market due to what looks like the necessity for a hard brexit. There has already been wide spread media coverage of the Unilever – Tesco situation. Where Unilever were going to up there prices on house hold goods and Tesco removed some items from their shelves,. this situation has now been resolved, but be aware this could be an issue in other forms of trade later down the road.
I would expect a small increase, but if the data comes in higher than expected then Sterling could suffer. It seems a strange scenario considering inflation would have been seen as positive pre-brexit.
There is the Bank of Canada’s interest rate decision on Wednesday at 3pm but I would be surprised if there was any movement, I think it will most likely be a non-event. With Putin’s recent announcement he would be capping oil production we have seen oil and the Canadian dollar rise in value. Oil being Canada’s main raw material export.
I think in order to see a significant rally for Sterling we will need to see decisive action in regards to trade negotiations with its counterparts. Francois Hollande and Jean Paul Junker have said they are not willing to negotiate until article 50 is triggered. Theresa May has stated that this will occur before the end of March 2017.
If you have a currency requirement it is vital to get the relevent information before you make a decision. If you want up to date market information and forecasts along with rates that can beat almost any brokerage or bank please do not hesitate to get in touch. I can be contacted at email@example.com.
The true impact of the vote to leave the EU is ever present on the currency markets. The pound having fallen significantly against all major currencies. There has been little data of consequence out this week form the UK but we have still seen the pound’s value drop. This is predominantly due to high probability that there will have to be a hard brexit after Francois Holland and Jean Paul Junker indicted there would be no trade negotiations unless Article 50 was triggered.
Theresa May has stated that Article 50 will be invoked before the end of March. Until we see decisive action taken with regards to trade negotiations I do not see the possibility of a significant rally for the pound.
As oil is one off the key exports for Canada, Putin’s recent announcement that the Russians will be limiting its output is good news for Canada. This has added further woes for the pound and should the oil pound continue to rise expect the pound to continue to weaken.
If you have a currency requirement short term it is vital to be in touch with a knowledgeable broker to assist in timing your trade and also making sure you utilize the correct contract option to suit your needs. I will be happy to assist. I am also in a position where I can confidently say I will beat any bank or competitor’s exchange rate. If you would like me help with your trade please e-mail me at firstname.lastname@example.org.
Sterling vs the Canadian Dollar has continued to slide since the announcement made by UK Prime Minister Theresa May that the UK will look at triggering Article 50 by March 2017. The announcement has caused a huge loss of confidence in Sterling and as yet there has been no formal announcement by Theresa May whether we will face a ‘hard’ or a ‘soft’ Brexit.
The uncertainty surrounding Article 50 and the UK’s ability to negotiate its exit from the European Union is having a huge negative impact Sterling exchange rates. Indeed, French president Francois Hollande said only recently that European leaders should take a firm stance when negotiating with the UK.
UK economic data that has been published since the the Brexit vote has generally been fairly positive apart from the odd blip but the currency markets between Sterling and the Canadian Dollar have continued to fall. This goes to show how important the political uncertainty is having on the GBPCAD pair.
This is good news for anyone looking to sell Canadian Dollars but not so for anyone looking to move to Canada.
Having worked in the industry since 2003 the uncertainty in my opinion could be even more concerning for Sterling than the credit crunch and with Sterling now even trading at low as 1.21 between GBPUSD exchange rates this is a real concern for the Pound.
The Bank of England are not due to meet until early November but there have already been suggestions that the central bank may look to cut interest rates and that could have an even more detrimental effect on Sterling.
If you have a currency transfer to make and need to either buy or sell Canadian Dollars then feel free to contact me directly for further information or for a free quote. Tom Holian email@example.com
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Sterling vs Canadian Dollar exchange rates have hit their lowest level to buy Canadian Dollars in 3 years this week since UK Prime Minister Theresa May announced that the UK will trigger Article 50 in March 2017.
It could be argued that at last we may have some certainty going forward for the UK but until we know whether Theresa May will opt for a ‘hard’ or a ‘soft’ Brexit this is likely to keep Sterling under pressure for the time being against the Canadian Dollar.
Sterling is also at its lowest in 31 years against the US Dollar as rumours are fuelling that the US could look at raising interest rates in the near future. Typically when the US Dollar gains strength against the Pound the Canadian Dollar also tends to follow a similar pattern.
There is also a chance that the Bank of England are looking at cutting interest rates at their next meeting which is another reason for the Pound struggling against the Canadian Dollar.
On Friday the UK publishes both Industrial and Manufacturing production data and this will cover August, which is likely to have been negatively affected by the impact of the Brexit vote so I think the data could come out lower than expected, which could see Sterling fall further against the Canadian Dollar. Therefore, if you’re thinking of buying Canadian Dollars then it may be worth doing something soon.
Having worked in the industry for 13 years I am not only able to offer you competitive exchange rates when it comes to buying or selling Canadian Dollars but to also help you with the timing of your transfer. To find out more or for a free quote then contact me. Email me directly Tom Holian firstname.lastname@example.org or fill in the form below.
I look forward to hearing from you.
GBPCAD rates have fallen further principally on GBP weakness but also as the price of Oil gathers pace. Oil is not quite at its highest in the last few months but it is much more steady and this is underpinned a much stronger Canadian dollar. If you are looking to buy Canadian dollars with pounds the ongoing uncertainty of Brexit seems likely to weigh heavily on the market and I would not be surprised to see sterling fall even further.
Many analysts commentating on the market expect sterling to slide even further as big institutional investors sitting on the side continue to pull funds from the UK as the prospect of the UK severing ties with the European Union bites. Most investors are not necessarily short term but long term and it is these big players movements which will affect the market. The effects of their decisions are what is driving the rates and clients looking to buy the Canadian dollar with the pound should be careful of holding on for higher rates.
Friday is the big day for the Canadian dollar with the latest Canasdian dollar Unemployment rate released. there are still concerns in the Canadian economy following the Oil Sands fires earlier this year which may have shaved as much as 0.5% of GDP off the Canadian economy. More immediate fears over recession might have abated but investors will be watching the data for signs of how the economy is holding up.
As currency specialists we write these posts for information for our clients and new clients alike. Despite the pound looking likely to fall further there will be spikes to take advantage of and it is tracking these developments which is vital to securing the best rate.
For more information at no cost or obligation please contact me Jonathan Watson on email@example.com
The author is Associate Director and Chief Analyst at one of the UK’s largest, longest running, privately owned UK Currency Brokerages