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Weekly Currency Update GBP/CAD - Week ending 23rd April

Weekly Currency Update GBP/CAD - Week ending 23rd April

Old Apr 26th 2010, 9:13 pm
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Default Weekly Currency Update GBP/CAD - Week ending 23rd April

Hi All,

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

The Loonie, as the currency is sometimes known, weakened towards the end of last week after inflation failed to keep pace with economists’ forecasts and retail sales advanced less than anticipated. The nation’s consumer price index unexpectedly slowed in March to an annual pace of 1.4 percent, from 1.6 percent the previous month and retail sales increased just 0.5% in February. Even with the disappointing retail sales and inflation data, the prospect of higher interest rates means the Canadian dollar has the potential to continue to improve.

GBP/CAD movement – High’s & Low’s of last week (19th April– 23rd April)
High’s: 1.5616
Low's:1.5271

A movement of 2.26%

Difference on £200,000

High: CAD 312,320
Low: CAD 305,420

Difference of: CAD 6,900

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
Windsor2 is offline  

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