Go Back  British Expats > Partner Forums > HiFX - International Currency Transfers
Reload this Page >

GBP/CAD Febuary Currency Update

GBP/CAD Febuary Currency Update

Old Feb 5th 2010, 2:19 am
  #1  
BE Enthusiast
Thread Starter
 
Joined: Dec 2004
Posts: 524
Windsor2 will become famous soon enoughWindsor2 will become famous soon enough
Default GBP/CAD February Currency Update

The month began with the BoC leaving rates on hold at 0.25% as expected. Within the accompanying statement the central bank suggested that domestic demand will be the primary driver of growth for Canada vs. export led gains. On the currency front they suggested that the strength of the Canadian Dollar continues to act as a significant drag on economic activity. To this end they also revised down their growth outlook for 2010.

Later the Monetary Policy report echoed the sentiment left by the BoC which set the stage for the very disappointing retail sales reading. During the month of November sales levels fell by 0.3% raising questions marks over the BoC's certainty of a domestic lead growth phase.

Despite this, the release last week of the GDP number for November surprised to upside at 0.4% and the Canadian dollar made broad gains. Direction continues to be influenced by oil prices which appear to be bouncing back pushing the Dollar higher.

This week the focus is on Friday’s employment change numbers with the market expecting to show an increase in jobs created of around 15,000


Central bank rates:
Canada (BOC) 0.25%
UK: (MPC): 0.50%

High & Low of the month:
High: 1.7290
Low: 1.6402
% Movement: 5.41%

Difference of cost on a $200k property:
High: £115,673.79
Low: £121,936.34
So a difference of £6,262.55



All of the information above can be explained clearly by your personalised dealer should you open a trading facility with HIFX. To discuss your requirements in more detail and for a free currency consultation please contact HiFX plc on 01753 859 159 or email [email protected].

Last edited by Windsor2; Feb 5th 2010 at 2:42 am.
Windsor2 is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Manage Preferences - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.