Weekly Currency Update GBP/CAD - - Week ending 17th September
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Weekly Currency Update GBP/CAD - - Week ending 17th September
As promised here’s a brief update on what’s been happening with the Canadian Dollar over the last week.
The ‘Loonie’ began the week stronger against the pound as increased risk appetite saw the commodity based currencies rise. It was incredibly light on the economic data front with only July manufacturing sales released mid-week. These came in significantly under expectations with a drop of just shy of 1% causing the Canadian Dollar to weaken through until the end of the week.
GBP/CAD movement – High’s & Low’s of last week (13th September– 17th September)
High’s: 1. 6186
Low's: 1. 5795
A movement of 2.48%
Difference on £200,000
High: CAD 323,720
Low: CAD 315,900
Difference of: CAD 7,820
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.
Regards
Mark Bodega
Director - HiFX
The ‘Loonie’ began the week stronger against the pound as increased risk appetite saw the commodity based currencies rise. It was incredibly light on the economic data front with only July manufacturing sales released mid-week. These came in significantly under expectations with a drop of just shy of 1% causing the Canadian Dollar to weaken through until the end of the week.
GBP/CAD movement – High’s & Low’s of last week (13th September– 17th September)
High’s: 1. 6186
Low's: 1. 5795
A movement of 2.48%
Difference on £200,000
High: CAD 323,720
Low: CAD 315,900
Difference of: CAD 7,820
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.
Regards
Mark Bodega
Director - HiFX