FX report for the week ending September 23, 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-23-2016 Highlights
- The US dollar lost some of its earlier gains on Wednesday as the Federal Open Market Committee voted to keep the federal funds rate unchanged at 0.5%
- The greenback extended its decline on Thursday, still pressured by FOMC’s decision to keep rates unchanged – even though the Fed hinted a December rate hike is a possibility
- The loonie received a boost combined with oil prices, closing the week against the USD at 1.3171
EUR/CAD W.E Sep-23-2016 Highlights
- The euro ended the week stronger against the Canadian dollar at 1.4788, up 0.33% from the close of the previous week
- The euro picked up on Friday as most data out of the eurozone came out better than expected
- The euro is expected to maintain its gains on Monday, as the German IFO data will be released
GBP/CAD W.E Sep-23-2016 Highlights
- The sterling continues to slide, closing the week against the loonie at 1.7074 – down 0.66% from the close of the previous week
- The UK macroeconomic calendar for this week has minimal data release until this Friday, when the UK will declare its Current Account and GDP figures
News with Possible Impact on Currencies
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