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Canadian Dollar strengthens

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Richard Beaumont - Canadian Dollar strengthensWritten by:
Richard Beaumont
T: 01442 892 060

Today we have seen the Canadian Dollar strengthen against its counterparts, making it a lot more expensive to buy the Loonie.

This just outlines the importance of staying in close contact with your FCG account manager. If you would like to open a free, no obligation trading facility, click the link to get started.

GBP/CAD exchange rate graph

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Employment figures Boost the Loonie

Today’s Canadian employment numbers gave the Loonie a well needed boost. After a previous decline in employment of -10.1K, this month’s figures showed a positive 48.3k and a fall in unemployment from 6.9 to 6.8%.

This caused the rates to fall away throughout the afternoon. The GBP/CAD exchange rates, having climbed following the UK manufacturing figures, fell almost two points into the 1.62’s.

Canadian Dollar crosses

It wasn’t just Sterling that fell away against the Loonie today. The USD/CAD rates fell from highs over 1.3150 to lows of around 1.3050. EUR/CAD also saw rates decline from over 1.40 to lows of 1.388.

With up and coming election in Europe and newly elected Trump in the US, it is likely to be very volatile in both USD and EUR crosses for some time to come.

Send money abroad

Using a specialist currency broker like Foremost Currency Group could save you thousands on your overseas purchases. Whether you are buying a property abroad, paying foreign suppliers or just topping up an overseas account, we can help save you money.

We offer commercial rates of exchange, much better than your high street banks and have contracts to suit every requirement.

Opening a trading facility does not cost or obligate you in any way and should only take a couple of minutes online.

Alternatively, if you just want a free quote on your currency purchase, or would like to know more about how we can help, contact me directly on the details below or complete the enquiry form.

Richard Beaumont
T: 01442 892 060

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