FX report for the week ending August 12, 2016
Introducing a new weekly post from theCurrent… Rate Tracker! Every Monday we’ll provide charts and information giving you a quick rundown of how the Canadian dollar fared against three of the world’s most important currencies – the US dollar, the euro, and the pound sterling. You can also find important news and other events that could affect the dollar in an easy to read table. We hope this will help connect you even more to Continental and the wide world of foreign exchange. Enjoy!
USD/CAD W.E Aug-12-2016 Highlights
- The Canadian dollar gained against the US$ last week despite disappointing home price data from Canada
- The U.S retail sales and PPI data came out lower than expected on Friday
- US$ ended the week low at 1.2962, down 1.53% from the close of the previous week
EUR/CAD W.E Aug-12-2016 Highlights
- The euro rate dropped against the loonie by 0.88% from its closing rate on Aug 05, 2016 to end the week at 1.4468
- The euro benefited after the eurozone gross domestic product remained unchanged at 0.3% in the second quarter in line with the forecasts
GBP/CAD W.E Aug-12-2016 Highlights
- The pound sterling weakened across the board this week in response to the interest rate announcement from the previous week.
- It lost ground against the Canadian dollar for 5 days consecutively and dropped below the levels seen in the wake of the unexpected vote in favour of a ‘Brexit’.
- The sterling rate decreased by 2.77% from its closing rate on August 05, 2016 to end the week at 1.6734
News with possible impact on currencies
Sources: Bank of Canada, Forex Factory, Continental Currency Exchange. Track currencies for yourself with our FREE Rate Watch.
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