Bad week for China and Canada, despite positive news in both countries

The Chinese have had a difficult week, losing ground against most currency pairings. The week started positively for them with some decent results from their Manufacturing Purchasing Managers’ Index (PMI) and Caixin PMI on Sunday and Monday respectively. However, these results failed to rally the struggling currency as it continues to deal with the effects of low commodity prices and the repercussions of their market crash.

Canada also had some positive results this week, with their trade balance coming out better than expected on Wednesday. But despite this, the Canadian dollar fell sharply against both sterling and the US dollar, and only managed to claw back strength against sterling today after our poor set of results

Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.