020 7898 0500Elsewhere, yesterday saw the Canadian dollar climb against the majority of its peers following the release of strong retail sales data for July. Sales jumped 0.6% from June and followed improvements in the nation’s wholesale and manufacturing data across the same period. These are all positive signs for the Canadian economy, and something which has been reflected in recent demand for the currency. Both the Australian and New Zealand dollars weakened yesterday following a depression in global stock markets. With equity markets on a softer footing, we see demand for riskier assets (such as the Australian and New Zealand dollars) decline, as traders look to play it safe. In turn we saw the Japanese yen perform well yesterday, with the cautious market backdrop having helped the yen to gain some 2% since the seven-week lows it hit on September the 11th. Today is a fairly quiet one data-wise, with the only release of note being a financial stability review from the Reserve Bank of Australia. Get in touch with your trader for a live rate.
