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Hi All,

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

The Canadian Dollar continues to be influenced by oil prices which appear to be bouncing back pushing the Dollar higher, also helped by Thursday’s PMI data which was better than anticipated.

Friday’s employment change numbers with the market were expected to show an increase in jobs created of around 15,000, but instead came out worse than expected at 8.5% (against a forecast of 8.3%). The CAD finished at the same levels as the week before, so little movement.

GBP/CAD movement – High’s & Low’s of last week (01st Feb – 05th Feb)
High’s: 1.7091
Low's: 1.6690

A movement of 2.40%

Difference on £200,000

High: CAD 341,820
Low: CAD 333,800

Difference of: CAD 8,020

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
 
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