Currency Note Worldwide

Busy week for data, how will this affect exchange rates?

By Ricky Bean October 14th, 2013

Elsewhere, on Friday the Canadian dollar was trading at near one-month lows despite the release of figures showing unemployment levels were at the lowest they have been since 2008. Canadian dollar weakness has been an on-going theme over the last few weeks amid concern that the US government shutdown will slow the nation’s biggest trading partner. We saw the Australian dollar hit 3-week highs against its US counterpart as new found market confidence that arose in the middle of last week fuelled demand for high-risk currencies. The Australian dollar strength was initially bolstered as traders anticipated the release of Chinese trade balance figures on Saturday but these disappointed and we saw weakness from the Australian dollar at the start of trading this morning. The market confidence continued to cause the Japanese yen to struggle, as trader look to buy riskier assets. Looking forward to this week, we have a string of data out of China, including GDP, inflation, and industrial production figures. We also have the release of monetary policy meeting minutes from Australia, and a speech from the governor of the central bank. Finally we have manufacturing and inflation data out of Canada. Get in touch with your trader for a live rate.