FX report for the week ending September 2, 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 Sep-02-2016 Highlights
- The US dollar was able to retain its gains against the loonie on the last day of August after ADP Non-Farm data out of the US came out better than expected
- However, the USD gains were limited on Friday as the US unemployment rate remained low at 4.9% in August and employers added 151,000 Jobs
- Weak data out of Canada did not help the loonie much last week as that may affect the Bank of Canada interest rate decision adversely
- The USD/CAD pair ended the week at 1.2990, down 0.08% from the close of the previous week
EUR/CAD W.E Sep-02-2016 Highlights
- The EU released preliminary August inflation figures that were lower than expected
- The important news for the European Central Bank this week is the Minimum Bid Rate scheduled for release on Thursday, September 8, 2016
- The EUR/CAD pair ended the week down 0.40% from the close of the previous week.
GBP/CAD W.E Sep-02-2016 Highlights
- The sterling extended its gains against the Canadian dollar last week, supported by strong UK data
- The sterling ended the week stronger against the Canadian dollar at 1.7272, up 1.17% from the close of the previous week
NEWS WITH POSSIBLE IMPACT ON CURRENCIES
Sources: Bank of Canada, Forex Factory, Continental Currency Exchange. Track currencies for yourself with our FREE Rate Watch.
Stay informed. Stay Current.
