FX report for the week ending August 26, 2016
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-26-2016 Highlights
- The rise in crude oil prices during the week helped the Canadian dollar but was not enough to offset the impact of a rising US dollar on Friday
- The US dollar moved higher against the loonie on Friday in the aftermath of Fed Chair Janet Yellen’s speech
- The comments made by the Fed Vice Chair Fischer certainly suggested a possible rate hike in September
- The USD/CAD pair closed the week at 1.3000, up 1.11% from the close of the previous week
EUR/CAD W.E Aug-26-2016 Highlights
- After opening the week strong at 1.4641, the euro ended the week lower against the Canadian dollar at 1.4552
- Data out of the eurozone did not help the euro much last week, as any indication of slower economic growth affects investors’ confidence.
GBP/CAD W.E Aug-26-2016 Highlights
- The sterling ended the week stronger against the Canadian dollar at 1.7072, up 1.52% from the close of the previous week
- The important news out of the UK this week is the manufacturing and construction sector PMIs which are scheduled for release on Friday, September 2, 2016