GBPCAD is moving higher with sterling finding support on higher U.K. inflation figures. The afternoon will see the release of the same data for the Canadian economy. The U.K. saw higher inflation numbers with the core inflation release coming in at 1.5% versus 1.3%, while the inflation rate was 0.7% […]
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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.
GBPCAD was higher yesterday and could be looking at a move towards resistance levels as the Canadian economy sees the release of employment numbers this afternoon. The pound has gained despite an increased stimulus program from the Bank of England (BoE).
GBPCAD was down 0.10% on the day as the pair continues to drift lower on Brexit and oil prices. The EU summit last week failed to produce anything tangible in terms of a deal and there is animosity towards any further talks with U.K. Prime Minister Boris Johnson suggesting that […]
GBPCAD was 0.25% higher as Boris Johnson gets set to address markets on the next steps for the U.K. with Brexit. The country’s Prime Minister had threatened to walk away from talks in mid-October if an agreement hadn’t been reached but it looks likely that the threat has receded and […]
GBPCAD is testing resistance near the 1.7300 level and the BoE’s Andy Haldane has boosted the pair by ruling out negative rates anytime soon. GBPCAD pushed through resistance on Monday and is looking for a catalyst to see further gains. The recent weakness in crude oil has supported the pound […]
The GBPCAD was moving higher into a recent range after finding buyers at the 1.6800 level. The pound was moving higher after the Bank of England Deputy Governor Dave Ramsden said he saw the current 0.1% interest rate as the floor for the for U.K. rates. But he added that the bank “duty-bound” to consider […]
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 […]
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 […]