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It is a quiet start to the week with no data of note being released today. This has not stopped the exchange rates from moving however, as we have seen GBP/CAD exchange rates move from around 1.63 to highs over 1.64, before coming back down again.
This just shows how quickly the markets can move and why it is important to stay in close contact with your Foremost Currency Group account manager.
If you don’t already have a trading facility with us, click the link to get started.
GBP/CAD exchange rate graph
This week’s economic data
It is a fairly quiet week from Canada, with only a couple of releases of note throughout the week. If you have an up and coming Canadian dollar purchase, Wednesday will be the most important day to watch out for.
This is when we will see the latest Manufacturing Sales from Canada. These are forecast to show reasonable growth of 1.4% and could strengthen the Loonie against its counterparts. Given the robust figures coming from Canada recently, this could easily throw up a surprise and beat estimates.
Later that day we also have the latest Crude Oil Inventories from the US. Given the troubled oil market, we could always see some surprises.
Buying currency with Foremost Currency Group
If you need to buy or sell a foreign currency, Foremost Currency Group could help save you money by offering much better exchange rates than your bank.
We offer various contracts tailored to your individual needs. So whether you are buying a property abroad, paying foreign suppliers or just topping up an overseas account, we can help you save money.
Opening a trading facility does not cost or obligate you in any way and only takes a few minutes online.
Alternatively, if you just want a free quote on your currency purchase or would like to discuss your requirements, contact me on the details below or complete the enquiry form.
T: 01442 892 060