FX report for the week ending January 6, 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 loonie strengthened to a 3 week high against the US dollar last Thursday as it benefited from stronger oil prices
- Canadian job growth also increased on Friday as employers added 53,700 jobs in December and the unemployment rate inched up to 6.9%, while the US economy added 156,000 jobs and the US unemployment rate edged up to 4.7%
- The USD/CAD pair closed on Friday at 1.3232
EUR and CAD
- The euro ended the week on Friday lower against loonie at 1.3939, down 1.62% from the 2016 year end close
- No high impact news is expected in the eurozone this week, except for the monetary policy meeting accounts which is scheduled for release on Jan 12, 2017
GBP and CAD
- After opening the week strong at 1.6469, the British pound ended the week lower on Friday against the Canadian dollar at 1.6253
- The sterling is expected to slip against the Canadian dollar this week as foreign exchange markets may react negatively to the latest developments on the Brexit front
News with Possible Impact on Currencies
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