FindCurrency.com

By Michael Vaughan

After struggling in the morning session the pound picked up against the USD and CAD during the afternoon session. Focus this week will be on Wednesday’s Bank of England minutes to give the market further indications as to whether the Bank’s Quantitative Easing policy will be extended.

By Leigh Smith

GBP CAD exchange rates have fallen during early morning trading today, with the cost of converting Pounds to Canadian Dollars increasing by over 0.3%.

At 1.30pm this afternoon Statistic Canada release their manufacturing shipments data, a key indicator of the manufacturing sector and therefore health of the Canadian economy as a whole. It is expected to show an improvement to 0.5% growth, this may have been priced into the markets already, but if the data comes out differently we may see some volatility for GBPCAD exchange rates this afternoon.

By Leigh Smith

Good news for anyone looking to convert Pounds to Canadian Dollars so far this morning, with GBPCAD exchange rates increasing by just over 0.1%.

This afternoon, 1.30pm GMT, we see two key releases come out, Canada’s New Motor Vehicle Sales, along with their International Merchandise Trade. Both of these are seen as key indicators of Canada’s economy there fore any data released differently to expectations may have an impact on the cost of sending money to Canada.

By Leigh Smith

GBP USD exchange rates have followed on from yesterday’s movements so far this morning, showing a 0.2% decrease so far during early morning trading.

The US Dollar has also strengthened by a similar amount, 0.28% against the Euro, showing that US Dollar strength is driving the markets this morning against an otherwise relatively stable UK Pound.

We do however have US continuing jobless claims released this afternoon, where expectation is good but as we know can be significantly different to the actual figure. Dollar buyers may want to be in contact with their broker early today.

By Rob Bastin

Sterling has lost ground across the board today with the most significant losses against the Canadian Dollar. Early better than expected unemployment figures falied to improve Sterling exchange rates as comments from Mervyn King shortly after caused investors to sell the pound as he warned that the BoE has not definately finished their QE programme, and that inflation is forecast to rise sharply in the coming months. GBP/USD rates are down by 1% and GBP/CAD rates are doen by 1.45% by 4:30pm.