Pound to Canadian Dollar Exchange Rate News, Forex Forecast and GBP CAD Conversion Today

October 10, 2014 - Written by John Cameron

STORY LINK Pound to Canadian Dollar Exchange Rate News, Forex Forecast and GBP CAD Conversion Today

Currency News UK brings you the latest on the Pound to Canadian Dollar with exchange rate analysis, the GBP CAD forecasts and predictions today:

Increasing global growth fears and panic over the spread of the Ebola virus dragged world share markets sharply lower during yesterday’s session. London’s FTSE 100 index had traded into positive territory during the early part of the day, but finished on a duff note to close down by 0.78%. Although Germany’s Dax edged higher, Paris’s Cac 40 ended the day down by a similar amount to London’s leading index. Across the Atlantic, equities incurred even heavier losses with the broad-ranging S&P 500 shipping nearly 2% of its value on the day.

VIX Index Spikes As Investor Sentiment Plummets

Meanwhile the VIX ‘Fear Index’ climbed once again yesterday, pointing to an increased use of protective ‘Put’ options from share traders in the States. Wednesday’s session had seen VIX drop back by almost 13%, but the renewed shift higher yesterday suggests that the key indicator may now trend higher towards its key band of resistance at the 17.50 to 18.00 level.

Ebola And Growth Fears Hit Investor Sentiment

The renewed flight to safety on the day was triggered by two themes which have developed over recent days. News of further suspected cases of the deadly Ebola virus in mainland Europe have sapped the market of positive sentiment. Meanwhile, the IMF’s early week warning that global growth would be weaker and more patchy than had previously been forecast continued to weigh on the minds of market participants. These concerns were accentuated by official data which revealed that Germany had suffered its largest monthly drop in levels of exports for some five years.

Pound vs Canadain Dollar: Currency Traders Wait On Jobs Data

Looking ahead, today’s highlight comes in the form of the latest Canadian jobs numbers, out at 1330hrs GMT. If they show at a disappointing level, then expect the Loonie to lose further ground against the Pound Sterling. The pair recorded decent gains yesterday, climbing to as high as 1.8017 during the latter part of the North American equities session as investors sought out safe havens for their investments.

International Money Transfer? Ask our resident FX expert a money transfer question or try John's new, free, no-obligation personal service! ,where he helps every step of the way, ensuring you get the best exchange rates on your currency requirements.

TAGS: Canadian Dollar Forecasts Daily Currency Updates Pound Can Forecasts