FX report for the week ending February 17, 2017
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 US dollar was able to bounce back on Friday, reversing losses made against the loonie as most data out of the US economy came out better than expected
- Unemployment claims in the US increased by 5,000 to 239,000 on Thursday from the previous week’s total of 234,000. It was expected that jobless claims were to rise by 11,000 to 245,000 last week
- The USD/CAD pair closed on Friday at 1.3099
EUR and CAD
- The euro started the week lower against the Canadian dollar due to renewed political tension in Europe. However, the euro’s losses were trimmed by the end of the week, as the EUR/CAD pair closed the week at 1.3895
- The big release for the euro this week is the eurozone manufacturing and service PMI data scheduled for release on Tuesday and the German Ifo Business Climate on Wednesday
GBP and CAD
- The British pound was under pressure on Friday as data showed weaker than expected retail sales for January
- Second Estimate GBP for the UK is expected to be released on Wednesday, February 22 2017
- The GBP/CAD pair ended the week at 1.6260
News with Possible Impact on Currencies
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