Position volume

Client trades

To find out how many Canadian dollars traders can get for each sterling pound, they will check the GBP/CAD Spot price.

The pound and the Canadian dollar are the fourth and seventh most-traded currencies in the world and both are referred to as 'majors' of the fx markets.

Sterling is the third most popular money as a reserve currency and also forms one part of the International Monetary Fund's (IMF's) Special Drawing Rights.

Economic reports measuring the UK's growth, unemployment levels and trade tend to have an effect on the currency's price, as well as the interest rate set by the Bank of England and any other major fiscal policy changes, such as the introduction of quantitative easing measures.

A key issue in recent years has been the level of debt held by countries worldwide and the austerity cuts imposed by the Conservative-Liberal Democrat coalition government certainly affected the value of sterling.

While a weak pound has several negative consequences, it can lead to more competitive exports for the country, which has the potential to strengthen the money.

In comparison, the Canadian dollar is heavily influenced by the price of oil - due to the amount it exports - and is often referred to as a petrocurrency.

Traditionally a strong money, many traders will go to it as a safe haven in times of uncertainty.

The Canadian dollar is also affected by economic reports and the fluctuation of commodities it exports.

Live Prices
Minimum spreads (pips): 1.8
Margin Requirements: 3.33%
Trading Hours:
Monday 00:01 - Friday 23:58

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.8% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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One Financial Markets is the trading name of Axi Financial Services (UK) Ltd, a company registered in England with company number 6050593. Axi Financial Services (UK) Ltd is authorised and regulated by the Financial Conduct Authority in the UK (under firm reference number 466201) and the Financial Sector Conduct Authority in South Africa (with FSP number 45784).

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