FX report for the week ending December 30, 2016
It’s time for another Rate Tracker from theCurrent! Every week 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 and CAD
- The Canadian dollar was almost unchanged against the US dollar mid-week, as markets were closed for the holidays
- However, the loonie was able to post small gains on Friday with the crude oil levels showing improvements. The USD/CAD pair closed the week at 1.3427
- There were no Canadian events this week. As for the US, the Chicago PMI data was much lower than anticipated on Friday
- The FOMC Meeting minutes is scheduled for Jan 4, 2017 and data on employment for both Canada and US is expected on Friday, Jan 6, 2017.
EUR and CAD
- The stream of news has been particularly light in the eurozone, with the euro closing at 1.4169 on Friday against the Canadian dollar
- 2017 is expected to be an interesting one for the euro, as the eurozone has elections in the Netherlands, France and Germany
GBP and CAD
- The pound to Canadian dollar exchange rate was indirect for most of December as falling liquidity and lack of data have weighed on both currencies
- The GBP/CAD closed on the last Friday of December 2016 at 1.6564
- The main data out for the UK this week starts with the Manufacturing and then Construction and Service PMI, which are scheduled for release on January 3rd, 4th and 5th respectively
News with Possible Impact on Currencies
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