Corporate foreign exchange news

Loonie lifts along with Canadian business sentiment

Tuesday, 14 July 2009 08:51:39 GMT

The Canadian dollar closed up against the greenback yesterday (July 13th), supported by a brace of reports from the Bank of Canada showing an improvement in business sentiment in the country.
The loonie rose to finish at C$1.518 against the dollar after the Bank of Canada published reports illustrating that while credit conditions had continued to tighten in Q2, the number of businesses reporting difficulty in obtaining credit fell during the second quarter.
George Davis, chief technical strategist at RBC Capital Markets, told Reuters: "In general, given the positive aspects of those reports we have seen some interest to buy Canadian dollars."
Buying activity was also buoyed by a rally on the main index of the Toronto Stock Exchange late in the day. US stocks were also lifted by the anticipation that Goldman Sachs will announce stronger earnings later today.
In its Q1 results, the group announced that revenues from its investment banking arm during the period had slid from $1.166 billion to $823 million year over year.ADNFCR-2522-ID-19263442-ADNFCR
Logo

Speak to one of the team

Please get in touch.

Contact details

Corporate FX
5th Floor, 62 Cornhill
London, EC3V 3NH
United Kingdom
Tel: 020 7743 7000
Fax: 020 7743 7001
Email: info@corporate-fx.co.uk

Contact us / Feedback

Thanks for contacting us

Map and directions

We are situated in the heart of the city of London.

Nearest tube/DLR stations:

Bank
Liverpool Street
Aldgate
Monument

Nearest mainline rail stations:

Liverpool Street
Fenchurch Street
Cannon Street

Global Reach Partners Limited; Registered in England No. 4344764. Registered for Money Laundering Regulations and Money Services
Business at Her Majesty's Revenue & Customs registrations No. 12140164. Supervised by the FSA in accordance with the payment
services regulations 2009, registration No. 504315.
© 2009 Global Reach Partners. Site credits