After a historically long and so-called ‘secret’ negotiation, the Trans-Pacific Partnership (TPP) has finally been agreed for Canada and 11 other nations. A quick foreign exchange market summary before we bring you the rest of the report: The Pound to Canadian Dollar exchange rate: GBP/CAD converts at 1.988 (0.005 change from yesterday) The Canadian Dollar to Pound exchange rate: CAD/GBP conversion is 0.503. The Canadian Dollar to Euro exchange rate today is converting at 0.68 CAD/EUR. The Canadian Dollar to US Dollar exchange rate converts at 1 CAD is 0.763 USD. The Canadian Dollar to Japanese Yen exchange rate today is converting at 91.831 CAD/JPY. Note: the foreign currency rates above, revised as of 6th Oct 2015, are inter-bank prices that will incur an extra cost by your bank for any international money transfer requirements. Speak to a recommended FX provider for personal and business related currency transfers. Although Canadian officials were brought into the deal on the promise of relaxed trade barriers between participating nations and the promises of hundreds of thousands of jobs, industry leaders and prime ministerial candidates have harshly criticised officials responsible for the signing, including current Canadian Prime Minister Stephen Harper. Although precise details of the deal have been closely guarded, the concessions made by the Canadian government in securing an agreement have been a bone of contention, as among other things, a reduced level of occupational protection is being forecast for the automobile production industry. While economists may have been expecting a universally positive reaction to signing of the deal, today’s reception proves otherwise, with the ‘Loonie’ falling to 0.5043 against the Pound Sterling. The Pound has been supported today by the annual New Car Registrations figure for September, which rose by 8.6% and was recorded as the best September result on record. In the future, Sterling is likely to be affected by tomorrow’s Industrial and Manufacturing Production figures for August, which have been respectively predicted to rise and fall. Forex News Now: Similar Story in CAD-EUR Exchange Rate as ‘Loonie’ Declines, despite Negative Eurozone Data Results in the Eurozone have not exactly been consistent this morning, although the performance of the common currency has been markedly stable today. The annual German Factory Orders for August result has printed at 1.9%, an indicator of growth but still a major shortfall from the predicted 5.6% rise. German data also disappointed elsewhere, with the Retail PMI for September dropping from 57.7 points to 54. However, both the Eurozone Retail and German Construction PMIs for September have posted in positive figures, therefore it seems as though investor optimism have stemmed mainly from these results. The Canadian Dollar has slipped to 0.6825 in the CAD-EUR exchange rate today. Tomorrow, Eurozone data is mainly centred on the German Industrial Production figure for August, which has been forecast to rise by 3.3%. For the ‘Loonie’, today’s Ivey Purchasing Manager’s Index for September and tomorrow’s August Building Permits figure are likely to trigger major movement, although forecasts have not been entirely supportive; a -4 point decline is expected in the former outcome while a 0.3% rise has been predicted for the latter. CAD-USD Exchange Rate on Downtrend as US Dollar Gains in Value from TPP Agreement Today Unlike the Canadian Dollar, the US Dollar has clearly been supported by yesterday’s TPP agreement; as one of the largest members of the TPP deal, the US has a lot at stake in the international arrangement, and it seems that yesterday’s green light sparked enthusiasm in ‘Buck’ investors to no end. This positive showing came with a downside yesterday, however, as the more direct US ISM Non-Manufacturing Composite for September dropped lower than expected from 59 points, coming in at 56.9 instead of 57.5. In addition, the Labor Market Conditions Index Change fell to a flat zero instead of rising by 0.2 points as had been forecast. As a consequence of yesterday’s and today’s ‘Greenback’-supportive factors, the Canadian Dollar has fallen to 0.7650 against the US Dollar. Tomorrow brings the US Trade Balance result for August, which has been forecast to show a widening of the US trade deficit by -$47.10. Wide Range of Reactions Offered on What TPP means for Canada, Pessimism Seems to Have Won Out Since yesterday’s momentous announcement, various officials have offered their say on what the TPP will mean for Canada in the long-term, including Canada’s Prime Minister himself Stephen Harper. Speaking yesterday, Harper said: ‘Ten years from now, I predict with 100 per cent certainty when people are looking back, they will say if we've got in it, they'll say that was a great thing. And if we haven't, they'll say that it was a terrible error.’

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