The GBPCAD was 0.3% lower on the day after the Bank of Canada (BoC) held interest rates at the 0.25% level. The Bank is also continuing with their quantitative easing program, which has seen purchases of at least $5 billion per week of Canadian bonds. In a statement, the BoC […]
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The GBPCAD rate depends primarily on the monetary policies of the Bank of England and the Bank of Canada. One other factor that is very critical in the GBPCAD rate are crude oil prices, the main export product of Canada. The Canadian economy is the 10th largest by nominal GDP, while the UK economy is the 6th largest and the health of the economies is an important factor that affects the value of the GBPCAD pair.
What is GBPCAD?
It is the forex pair that shows the value of the British Pound (GBP) against the Canadian Dollar (CAD).
GBPCAD shows investors how many Canadian Dollars are needed to buy one British Pound.
2019 was a very volatile year for the pair as the British Pound was moving on the headlines around the Brexit developments. Here on Investingcube.com you can find the latest GBPCAD news and GBPCAD price analysis and outlook.
The GBPCAD is weaker on the day by 0.21% as the market pauses ahead of three speeches by Bank of England members and the Canadian employment data on Friday. Today sees speeches by Monetary Policy Committee members Ben Broadbent and Andy Haldane. The speeches may give some insight into the […]
The GBPCAD is trading lower today on the back of diverging fundamentals affecting the component currencies. The commodity-based Canadian Dollar is benefitting from an uptick in crude oil prices, which is trading above $57 after key players signaled a possible OPEC cut. On the other hand, the British Pound is...