Buying Canadian Dollar rates of exchange using the Pound have taken a hammering as of late due to positive news emerging from Canada, contrasting the prolonged and uncertain atmosphere in the UK.

But after a week and a half of delays in announcing the new Government and its plans, this may be about to change. Speculation has been rife. Will the UK be aiming for a softer exit from the EU now given the most recent election results?

If so, which features will they aim to keep in their affiliation with the EU? Even fundamental questions like whether the Conservative Party members will fall in line with Theresa May must be addressed. At this point markets have opened up low for Sterling. This is unsurprising, some will be wishing to relieve themselves of Sterling by selling it off in case any major controversies occur.

This is not necessarily the trend for the day, but more cautious trading ahead of long anticipated and likely big news. I feel that any clarity should be positive, it is just a question of how well markets could receive the news. In these situations where a positive spike is expected, a popular option retail and corporate CAD buyers alike may wish to consider is a Limit Order.

This is a free tool which allows you to secure an exchange rate you desire the second it is hit in the live market. I strongly recommend that anyone with a Canadian Dollar buying or selling requirement should contact me on jjp currencies. 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 transfer later in the year and wish to secure the current exchange rates available now.

This is a popular option for anyone selling Canadian Dollars to buy Sterling. Those of our readers and clients planning on exchanging their Pounds into Canadian Dollars at better exchange rates have been disappointed today, as the Governor of the Bank of England, Mark Carney has disappointed the markets during an early morning speech earlier today. Just last week almost half of the voting members of the Bank of England voted in favour of raising rates.

british pound to canadian dollar exchange rate forecast

There is little data due out this week for the Pound specifically, so I think that those watching the Pound to Canadian Dollar rate should look out for Canadian economic data for the next major market mover.

This Friday at 1. If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds.

You can email me Joseph Wright on jxw currencies. These showed that two more members had voted in favour of a rate hike, news which immediately helped Sterling make inroads against its CAD counterpart.

With economic data for both the UK fairly sparse this week, it is likely that any media reports regarding the start of Brexit negotiations will be key to both currencies short-term fortunes. I feel that whilst so much uncertainty hangs over the UK, in terms of how we will separate ourselves form the EU and what deal will remain in place, the Pound is unlikely to sustain any major advances against the CAD.

The current market is so unpredictable that any short-term gains should be considered and any medium to long-term positions should be protected. The CAD itself is not immune, with global risk appetite shrinking commodity based currencies such as the CAD could come under pressure. With a heavy reliance in the Canadian economy on the export of crude oil and a falling market, the CAD could find life tough going over the coming months.

I am advocating to all my clients that they remove as much risk as possible from what has become a disjointed and uncertain market. If you have an upcoming GBP or CAD currency transfer to make and would like to be kept up to date with all the latest market movements, or simply wish to compare our award-winning exchange rates with your current provider, then please feel free to contact me on and ask one of the team for Matt.

Alternatively, I can be emailed directly on mtv currencies. If you are looking to purchase pounds with Canadian dollars, we are are close to some of the best rates in the last few weeks for such a transaction. There is an overall belief that the market will continue to favour clients looking to buy the pound because the pound will get weaker. This is without doubt a possibility but with sterling having dropped so much in the last week then I do feel hoping we will see dramatic improvements is a risky strategy.

Clients buying Canadian dollars could be offered some respite with a whole host of Canadian economic data released next week. Of course GBPCAD is also driven by the Canadian dollar and the main driver here is the price of Oil. With the OPEC Organisation of Petroleum Exporting Countries agreement hitting snags from the fact global supply remains at buoyant levels the Loonie is weaker overall.

The belief that the agreement is unlikely to trigger the rises longer term on the price of Oil means we might not see the strength on the Canadian dollar we had hoped.

GBP/CAD - Live Rate, Forecast, News and Analysis

This means the pound and the Canadian dollar will continue to be at loggerheads. If you need to sell CAD for sterling I would be suggesting current levels are very much worth taking advantage of or strongly considering. If you have a transfer to make we can offer assistance with the timing and planning of any deals to help minimise your exposure to the market. For more information at no cost or obligation please speak to me Jonathan Watson by emailing jmw currencies.

Thank you for reading and I look forward to hearing from you.

Sterling received a welcome boost yesterday, following the latest Bank of England BoE interest rate decision. Despite our central bank keeping rates on hold at 0. The CAD is likely to find support at 1. With Brexit negotiations yet to begin and pressure building on the PM to form a strong working government ahead of this, there are still many unanswered questions. The on-going uncertainty surrounding these talks is unlikely to support any aggressive advancements for Sterling and therefore I still feel clients should be looking at short-term opportunities, rather than hold out for long-term sustainable gains.

Whilst a cloud of uncertainty hangs over the UK economy, Canada has concerns of its own. With Oil being their main export, any downturn has an instant negative effect on their economy and the CAD is likely to lose value as a result. The pound has rallied against the Canadian dollar after the eagerly awaited Bank of England meeting today saw three of its members vote for an interest rate hike.

In a signal to the markets that an interest rate hike could come sooner that most had thought, the pound reacted immediately with a jump higher. GBP CAD has risen to a high of 1. There could be a big market movement for this pair in the coming days as a formal announcement is expected to be made confirming a Conservative government which is to be supported by the Democratic Unionist Party DUP. Nothing is certain at this stage in terms of its formation but in my view the deal will go ahead and the pound should see a rally on the back of it.

The markets are looking for certainty as to who is running the country and this should be positive for the pound. A move higher to 1. Clients looking to buy Canadian dollars would be wise to get in touch to set things up ready for the potential spike higher. The Canadian dollar received a small boost today after manufacturing shipments for April showed an improvement although upcoming data should create more volatility for the loonie.

Next week should be very interesting for the Canadian dollar with a raft of economic data. Retail sales data is released on Thursday whilst Consumer Price Index inflation numbers are released on Friday which should make for an interesting end to the week. If you would like further information on Canadian dollar exchange rates or any of the major currencies and to discuss how we can assist then please feel free to contact me on and ask one of the team for James.

british pound to canadian dollar exchange rate forecast

Alternatively, I can be emailed directly on jll currencies. After weeks of added expense from a resurgence in oil prices, alongside the anchor placed on Sterling from a shambles of an election, buying Canadian Dollar exchange rates may finally be heading back in a positive direction. Whilst the Pound is in limbo once more with the announcement of a new government partnership between the Tories and the DUP delayed due to the awful events in London yesterday, and conflicting diaries until the end of the week , the economic argument will come to the fore anyway, with the UK releasing their latest interest rate decision and well as monetary policy statement.

The UK has been moored at a historically low interest rate of 0. Yet there are a few murmurs asking for rates to rise. Any such move will as a rule of thumb will increase the value of the currency in question. Why are rates potentially rising in the UK whilst uncertainty from the Brexit and Referendum is so high?

We are now at 2. If prices are rising too fast they normally wish to step in and control this. One major tool to do this is to raise rates, encouraging people to spend rather than save. Whilst I am not expecting an interest rate hike today, it is likely that rates will be rising in line with the vote split between the Bank of England members.

I strongly recommend that anyone with a buying or selling Canadian Dollar requirement should contact me on jjp currencies. I have never had an issue beating the rates of exchange on offer elsewhere, so a brief conversation could protected your exposure to a volatile marketplace with the options I offer, and save you significant sums on your Canadian Dollar purchase or sale.

GBP TO CAD FORECAST FOR AND POUND TO CANADIAN DOLLAR TODAY

The snap election was deemed to be a smart move by Theresa May, unfortunately her cunning ruse did not go to plan. With the opposition so weak it seemed as though the election would be a foregone conclusion.

However, with May attacking her core voters by stating those of a specific age would have to pay for their own care we saw many switch their allegiance. This was also combined with a very successful Labor campaign, particularly through social media. With the need now for a coalition government we have seen Sterling fall heavily in value against the Canadian Dollar.

A conservative, DUP coalition is likely to be finalised next week which should cause a small Sterling rally due to the escape from political limbo. There are however further problems ahead. Brexit negotiations could prove problematic with Brussels demanding an excessive exit payment before commencing talks. This does not bode well for the pound. There was UK inflation data released yesterday and again there was a rise. This can be considered as positive for the UK economy, but I beleive this is a worrying sign.

The inflation issue is a direct result of the vote to leave the EU. The price increase is then filtered on to the consumer. This is all well and good provided average wage growth is climbing at the same rate as inflation, unfortunately it is not. This does have potential to create recession. If you have a currency trade to perform it is vital to be in touch with an experienced broker in order to maximise your return during such volatile times. If you let me know your time scale, currencies involved and the size of your trade I will endeavor to provide a trading strategy to suit your needs.

If you have a currency provider already in place I will provide a comparison and I am confident I can demonstrate a significant saving. Thank you for reading. The Pound has made some small gains against the Canadian Dollar owing to UK inflation data which came out higher than expected at 2.

The UK inflation rate is now running at a 4 year high and although the price of fuel has been falling the main reason for the rise was due to the costs of goods and services that have been rising recently.

There is a lot of economic data due to affect GBPCAD exchange rates over the next 2 days and we start with UK unemployment data as well as Average Earnings at am UK time. Unemployment has fallen to its lowest level in over 40 years but the problem for the UK economy is that of average earnings which have started to fall recently. The Bank of England are due to meet tomorrow to publish their latest interest rate decision and the likelihood is for another month of keeping interest rates on hold but if one member suggests an interest rate hike this could possibly give the Pound a small boost vs the Canadian Dollar as well as against all major currencies.

If you would like further information or for a free quote compared to using your own bank when buying or selling Canadian Dollars then contact me directly and I look forward to hearing from you.

We have seen a good period of strength for the Canadian Dollar today following on from comments by the Bank of Canada Governor Stephen Poloz, suggesting that we may see an interest rate hike for Canada sooner than had first been expected. The central bank mentioned in their comments that they now believe that interest rate cuts which were made in have seemingly done their job and that the economy is now starting to pick up at a good solid pace. An interest rate hike is generally seen as positive for a currency as it makes that currency more attractive to investors and an interest rate cut will usually be seen as negative.

With the markets moving on rumour as well as fact the mere fact that we have seen a hint towards a hike has led to the Canadian Dollar benefiting and gaining ground against most major currencies.

GBP to CAD | TorFX

In my view, I would not be surprised to see this run continue in the short term but I do not see this becoming the start of a long term trend. Tomorrow will be key as we have the release of the Federal Reserve interest rate decision in the States which will also be key for where we see the Canadian Dollar heads next, as it will impact on global attitude to risk.

Apart from that we are fairly quiet on the data front this week for the Canadian Dollar but be sure that there will be surprises that crop up that impact exchange rates as always. If you are looknig to carry out an exchange in the coming days, weeks or months then it is well worth getting in contact with me directly as I will be able to help you. Our company not only saves clients money on international transfers but we also help you with the timing of your purchase too.

If you feel I may be beneficial then feel free to contact me Daniel Wright on djw currencies. Enter your email address to subscribe to this blog and receive notifications of new posts by email.

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