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Weekly Currency Update - GBP/CAD Week ending 15th January

Weekly Currency Update - GBP/CAD Week ending 15th January

Old Jan 11th 2010, 8:40 pm
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Default Weekly Currency Update - GBP/CAD Week ending 15th January

Hi All,

As promised here’s a brief update on what’s been happening with the Canadian Dollar over the last week.

A rise in commodity prices sparked a Canadian equity market rally last week as industrial production figures releases out of the US and China indicated a strong pace of recovery within those countries.
Much like the US the major focus for the week was on the employment numbers for December. While the market was set to see job creation the actual headline figure was -2.6k highlighting that the recovery story is not necessarily a straight line. Unemployment however remained unchanged at 8.5%. This week we have a slew of housing data as well as the key trade data on Thursday.


GBP/CAD Movement – High’s & Low’s of last week (04/01/10 – 08/01/10)

High’s: 1.6955
Low’s: 1.6402

A movement of:3.37 %

Difference on £200k

High: €339,100
Low: €328,040

Difference of: €11,060

Whilst FX 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.

A further update will be added next week.

Regards




Mark Bodega
HiFX
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