Windsor2

Hi All,

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

Despite weaker oil prices the ‘loonie’ remained firm. With the Reserve bank now in a tightening cycle, it’s likely it will remain well supported.

Labour productivity in Canada was up for Q1, but less than what markets were expecting. Additionally, data showed manufacturers shipped more product in April than the month before, with shipments rising 0.2%.

Later in the week CAD lost gains in the Asian markets but saw rebound in Europe after better than expected news out of both Spain and the UK.

GBP/CAD movement – High’s & Low’s of last week (14th June –18th June)
High’s: 1.5305
Low's: 1.5015

A movement of 1.93%

Difference on £200,000
High: CAD 306,100
Low: CAD 300,300

Difference of: CAD 5,800

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