020 7898 0500- The Australian Dollar continued to struggle, particularly against the US dollar as it moved back to four-year lows. The currency reached this level after the central bank said the Australian dollar had been overvalued, and would gain from having a weaker currency to help its exports. Poor growth in China and weakening pricing for iron ore have put the dollar in a tough spot. The long-term forecast for the Australian currency remains positive as the Federal Reserve are likely to raise interest rates next year.
- Canada’s currency steadied this week as retail sales data came out better than expected. On Friday crucial growth figures are released. Previously at 3.1%, they are expected at 2.1%. Any significant changes could influence the strength of the Canadian dollar.
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