The US China trade talks are being a thorn in the side of neighboring economies. With Canada being a primary export market of their natural resources, the talk will undoubtable affect Canada’s ability to trade with global economies.
|Currency Pair||% Change (Month)||Difference on £200,000|
After Friday's sharp pullback on USD/CAD rates, triggered by the upbeat Canadian jobs report, the pair managed to regain positive traction at the start of a new trading week and was being supported by the selloff in oil prices, which tends to undermine demand for the commodity-linked currency.
Loonie levels have been on a downward trend from the sluggish Brexit talks and strength from the Canadian outlook. Oil struggles below the $61.00/barrel mark and undermines Loonie. Along with the Iran sanctions put in place by the US this has provided some support for the Oil exports from Canada.
Canadian data this week includes the BoC Consumer Price Index for core industries, this will be a key indicator of how Canada has performed. These Inflation figures are expected to increase for the year on year to 1.8% from 1.6%, which is to be taken with little optimism as there is an expected decrease in the month on month to 0%. Owing to the struggles mentioned by the trade war. The inflation figures will be analysed by the BoC in great details to adjust their forecasts for the expected outlook on global economies.
If you have a requirement involving Canadian dollars I would strongly suggest getting in touch with your account manager to discuss how to plan around these key releases.
It was efficient, felt very secure with the checks made along the line and a very good rate of exchange.
Excellent service. Contacted in the morning transferred funds. My bank in Spain received money the following morning. Brilliant.
We always use foreign currency direct. Completely happy with the service, fast and friendly.
Very good. Very efficient. Excellent rate.