Weekly Currency Update GBP/CAD - Week ending 13th August

[Windsor02]

As promised here’s a brief update on what’s been happening with the Canadian Dollar over the last week.

CAD fell this week after the Federal Reserve said after its Aug. 10 meeting that the pace of U.S. economic recovery is likely to be more modest than earlier anticipated. Crude oil, Canada’s largest export, tumbled 6.3 percent this week and Government bonds climbed.
Consumer prices excluding food and energy increased 0.9 percent in July from the year before, matching the smallest year-over-year gain since 1966. Overall prices rose 0.3 percent from the previous month, following three consecutive drops. This will likely further dampen further interest rate increases by the BOC

GBP/CAD movement – High’s & Low’s of last week (9th August– 13th August)

High’s: 1.6453
Low's: 1.6143

A movement of 1.92%

Difference on £200,000

High: CAD 329,060
Low: CAD 322,860

Difference of: CAD 6,200

Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further.

Regards


Mark Bodega
Director - HiFX