- Canadian dollar buyers are seeing the best price in five years against the US dollar due to increased worries about the shape of the world economy. Throughout the world we have seen a fall in markets, even oil prices which has collapsed to four year lows at around US$80 per barrel. This is always a negative point for currencies that rely on resources like oil. Today we will see inflation data out from Canada in the form of a Consumer Price Index (CPI) – this is forecast to come out at 0.2%, down from last month’s figure of 0.5%.
- The Australian dollar loomed around four-year lows as it lost out due to many selling riskier assets such as the high-yielding Aussie. Economic data out of China continues to be a major problem for Australia after China reporting the lowest consumer price in several years. Until the world economy stabilises, the Australian dollar will remain under pressure and likely to fall further.
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