The Pound Sterling to Canadian Dollar (GBP/CAD) and Pound Sterling to US Dollar (GBP/USD) exchange rates have respectively risen and fallen today, with a recent forecast for an ‘Out’ vote outcome shaping most of this movement.
GBP/CAD, GBP/USD Exchange Rate News: Retail Job Cuts and 10-Year Pullout Alarm Investors Today
Pound Sterling (GBP) has made diverse movements against its competitors today, with gains including 0.4% against the Euro (GBP/EUR) and the Canadian Dollar (GBP/CAD) and 0.8% against the Hungarian Forint (GBP/HUF) being offset by a small loss against the US Dollar (GBP/USD) and greater declines of -1% against the Japanese Yen (GBP/JPY) and -1.2% against the South African Rand (GBP/ZAR).
The Pound has been shifted in both directions today; on the positive side, January’s net consumer credit and mortgage approval outcomes have risen on previous figures, while more damagingly, the estimate has been put across that it could take up to 10 years for the UK to ‘properly’ leave the EU after a ‘Brexit’ vote takes place. This comes as part of a long chain of suspicion directed at the UK Referendum terms and conditions, from both sides of the argument.
Canadian Dollar (CAD) Slides Today while US Dollar (USD) Fluctuates Overall
The appeal of the Canadian Dollar (CAD) has been reduced significantly today, with news of rising job losses and falling oil prices failing to do anything positive for the value of the ‘Loonie’.
While banks are rolling out options to prevent homeowners from suddenly losing their property, the fact that these measures are being introduced only highlights how poor the nation’s economy has become at this point.
The Canadian Dollar has fallen by -0.6% against the Australian Dollar (CAD/AUD) and over -0.3% against the Pound Sterling (CAD/GBP) and US Dollar (CAD/USD) today.
US Dollar (USD) movement has been sporadic today, although overall the ‘Buck’ has made positive motions.
At the present time, it is thought that investors are reluctant to commit to the US Dollar, given the close proximity of ‘Super Tuesday’ tomorrow. The currency has risen against by 0.3% against the Canadian Dollar (USD/CAD) but fallen by -1% against the South African Rand.
GBP, CAD, USD Exchange Rate Forecast: Canadian Ecostats Today, US Election Bonanza Tomorrow
No major UK data is scheduled for release until tomorrow morning, but this doesn’t mean that the three currencies are expected to stay static until then.
This afternoon will bring the Canadian current account result for the fourth quarter, which was forecast to shift from -16.21bn to -15.55bn at the time of writing.
Tomorrow will be a momentous day for the US Dollar (USD), which can be expected to rise or fall chiefly based on the respective distribution of votes for ‘Super Tuesday’. The bulk of ‘Greenback’ movement is expected to come from the Republican nomination outcome, as a lion’s share for radical Donald Trump may panic investors who see such a development as injurious to the future security of the US economy.
Current GBP, CAD, USD Exchange Rates
The Pound Sterling to Canadian Dollar (GBP/CAD) exchange rate was trending in the region of 1.8777, the Canadian Dollar to Pound Sterling (CAD/GBP) exchange rate was trending in the region of 0.5331, the Pound Sterling to US Dollar (GBP/USD) exchange rate was trending in the region of 1.3857, the US Dollar to Pound Sterling (USD/GBP) exchange rate was trending in the region of 0.7217, the Canadian Dollar to US Dollar (CAD/USD) exchange rate was trending in the region of 0.7385 and the US Dollar to Canadian Dollar (USD/CAD) exchange rate was trending in the region of 1.3550 today.
Comments are closed.