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Weekly Currency Update GBP/CAD 6th - 10th July

Weekly Currency Update GBP/CAD 6th - 10th July

Old Jul 15th 2009, 3:33 am
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Default Weekly Currency Update GBP/CAD 6th - 10th July

Hi all,

Here’s an update of what’s been happening in the Currency Markets over the last week.

GBP/CAD traded a volatile 1.8650 – 1.90 range last week, mainly due to Sterling’s underlying volatility.

The CAD showed very little directional bias with even the key data release on Friday sending out mixed messages.

The oil price maintained its downward path last week, slumping to below $60, from $73 just 2 weeks earlier. However, this traditional correlation with the CAD failed to materialise.

CAD Movement – High’s & Low’s of last week (06/07/09 – 10/07/09) High’s: 1.9017
Low's: 1.8653
A movement of 1.95%

Difference on £200,000
High: 380,340 CAD
Low: 373,060 CAD
Difference of: 7,280 CAD

Whilst FX certainly isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further.

Regards,

Mark Bodega
Director - HiFX
Windsor2 is offline  

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