Pound Canadian Dollar forecast - GBP CAD

Hawkish comments from Bank of England officials and expectations of tax cuts have boosted the Pound on Tuesday. The Canadian inflation data had a measured impact, but reinforced expectations that the Bank of Canada would leave rates on hold at the December meeting. The Pound to Canadian dollar (GBP/CAD) inflation rate secured a...

The Pound Canadian Dollar (GBP/CAD) exchange rate posted a 3-week high just above 1.6955 on Monday as overall risk appetite held firm. GBP/CAD surged on Friday as a jump in the Pound was amplified by a weaker Canadian currency following the latest domestic jobs data and extended gains on Monday. Both currencies gained support from...

Canada Rates Held at 5.00%, BoC Still Fretting over inflation, GBP/CAD Exchange Rate Held Below 5-Week Highs The Bank of Canada held interest rates at 5.00% following the latest council meeting, in line with consensus forecasts. The US Dollar to Canadian Dollar (USD/CAD) exchange rate strengthened to just above 1.3800 before a...

GBP/CAD Exchange Rate Rally Stalls Ahead of Bank of Canada Policy Decision An easing of geo-political tensions and rebound in risk appetite during Monday helped boost the Pound in global markets and the Canadian dollar lost ground. The Pound to Canadian dollar (GBP/CAD) exchange rate strengthened to 5-week highs close to 1.6800 in...

Canadian Dollar (CAD) Quiet Ahead of BoC Rate Decision Meanwhile, the Canadian Dollar (CAD) is fairly muted as Cad investors move to the sidelines ahead of the latest interest rate decision from the Bank of Canada (BoC). With the markets pricing in another unchanged policy rate. Expectations that the central bank will keep the rate at...

Pound (GBP) Underpinned by Rate Hike Expectations The Pound (GBP) found modest strength against many of its peers on Wednesday despite a lack of major economic data. Elevated interest rate hike expectations could have kept Sterling supported amid the prospect of several more rate hikes in the coming months. With last week’s surprise...

Pound Canadian Dollar (GBP/CAD) Exchange Rate Strengths as Investors Anticipate BoE Decision The Pound Canadian Dollar (GBP/CAD) exchange rate strengthened on Monday morning, as rate hike bets from GBP investors underpinned Sterling. At the time of writing, GBP/CAD traded at around CA$1.6537, an increase of roughly 0.2% from...

Canadian Dollar (CAD) Supported by Surging Oil Prices The Canadian Dollar (CAD) enjoyed moderate success to open the week with a spike in oil prices. The commodity-linked ‘Loonie’ saw a boost in demand as China rolled back their strict Covid measures, bolstering demand for oil. A 3% jump from the opening levels, WTI crude traded around...

Pound (GBP) Pressured by Living Cost Squeeze Intensifies The Pound (GBP) languished on Wednesday as food inflation hits a fresh record high and consumer borrowing increased. The British Retail Consortium (BRC) reported food inflation soaring to a new record level of 13.3% in December. Following on from a 12.4% increase in November,...

GBP/CAD Exchange Rate Under Pressure as UK Strike Action Persists The Pound to Canadian Dollar (GBP/CAD) exchange rate traded narrowly on Friday amid concerns over the economic disruption being caused by the ongoing industrial action in the UK. At time of writing the GBP/CAD exchange rate traded at around CA$1.6604, which was...