Friday saw the Canadian dollar finish on a strong note, topping off what was a very positive week for the North American currency. After a string of good data releases throughout the week, employment figures released Friday lunchtime came in significantly above target. As a result ,we saw the Canadian currency continue to gain strength, approaching 2-month highs against sterling at close of business.
Looking forward to this week, eyes will be on Chinese trade balance figures on Thursday. As the world’s second largest economy, any major data releases can be seen top impact a variety of currencies, notably export-backed currencies such as the Australian, New Zealand, and Canadian dollars. It promises to be an interesting week for the Australian dollar, with employment and business confidence figures also being released. Business confidence figures are also being released from New Zealand, and we also look forward to a monetary policy statement from Japan.
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