FX report for the week ending August 19, 2016
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It’s time for another Rate Tracker from theCurrent! 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-19-2016 Highlights
- The US dollar weakened after news emerged indicating a division in opinions among policy makers over the direction of interest rates in the coming year
- The US dollar regained some strength on Thursday after unemployment claims came out better than expected.
- The USD/CAD maintained its gains on Friday due to disappointing data on CPI and retail sales out of Canada.
- The USD/CAD ended the week at 1.2857, down 0.81% from the close of the previous week.
EUR/CAD W.E Aug-19-2016 Highlights
- The loonie was lower against the euro on Friday, with the EUR/CAD gaining 0.68% from its closing rate on Aug 12, 2016 to end the week at 1.4566.
- The EUR/CAD gained into the end of the week after the final CPI data remained unchanged at 0.2%
GBP/CAD W.E Aug-19-2016 Highlights
- The GBP Consumer, Producer and Retail Price Index data all came out better than expected on Tuesday.
- The sterling rate increased against the Canadian dollar by 0.50% from its closing rate on August 12, 2016 to end the week at 1.6817
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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