Convert 3,136 CAD to GBP

The Canadian Dollar to British Pound exchange rate is influenced by Bank of Canada rate decisions, oil prices, employment data, and US economic performance, as well as Bank of England rate decisions, UK inflation, employment data, and Brexit-related political developments. Both the Bank of Canada and Bank of England play crucial roles in determining the relative strength of these currencies.

Everyone calls it the Loonie after that bird on the one dollar coin and honestly its a proper fitting name because this currency can send you a bit loony trying to trade it sometimes. Canada is basically Americas neighbour with oil and thats kind of all you need to know.. crude prices are a massive driver especially WTI since thats whats relevant for Canadian exports. The USDCAD pair is one of the most traded in the world and it moves in a funny way because youre essentially trading oil sentiment against US dollar strength at the same time. When oil rips higher the CAD strengthens and USDCAD drops but if the USD is rallying hard it can override that completely. The Bank of Canada tends to shadow the Fed to some degree because the two economies are so intertwined.. about three quarters of Canadian exports go to the States so whatever happens south of the border matters enormously. The CADJPY cross is another good one to watch as it combines the commodity and carry trade angles. Solid G10 currency with decent liquidity around the clock.

The pound sterling.. our quid. Oldest currency still in use and it still commands proper respect in global markets sitting as the fourth most traded currency worldwide. GBPUSD or "cable" as the old school traders call it is an absolute beast of a pair.. it moves fast it moves far and it will take your stop out before you can blink if youre not careful. The Bank of England sets the tone but honestly since Brexit the pound has become much more sensitive to political headlines than it used to be. That flash crash in 2016 when the referendum result came in was something else entirely.. cable dropped nearly 10 percent in hours. The UK economy is heavily services oriented particularly financial services so London business confidence and the housing market tend to matter a lot. EURGBP is the other big pair and its become increasingly important for gauging UK versus eurozone relative strength. The pound also crosses nicely with the yen and the Aussie dollar. Spreads are tight on the majors and theres good volume pretty much around the clock. Volatile unpredictable and never dull.. thats cable for you.