The Canadian Dollar continues to trade at low levels against the US Dollar despite positive Canadian Manufacturing PMI data for December. Market expectations and overall risk appetite remain key factors influencing the Loonie's performance.
The Canadian Dollar (CAD) remained weak against the US Dollar on Thursday. Canadian PMI data from December surpassed expectations but couldn't trigger a Loonie rally. US PMI data on Friday will be crucial for gauging risk appetite . The Canadian Dollar (CAD) continued to trade at low levels against the US Dollar on Thursday, with Loonie traders adopting a cautious approach at the start of the new year.
After declining nearly eight percent in the last quarter of 2024, the Loonie is struggling to recover as market expectations weigh on the CAD. While the Canadian Purchasing Managers Index (PMI) survey results for December beat market forecasts, rising instead of falling as predicted, the mid-tier figure failed to initiate a rebound in the weakened Loonie. Markets are active as investors prepare for the 2025 trading season, and overall trading volumes remain subdued following the New Year’s holiday in the middle of the week on both sides of the 49th parallel. The Canadian Manufacturing PMI survey for December increased to 52.2, exceeding the anticipated decline to 51.9 from the previous 52.0. Despite this positive data, the Loonie remains under pressure near multi-year lows. US Initial Jobless Claims eased to 221K for the week ending December 27, falling short of the projected increase to 222K from the previous week’s 220K, providing support to the US Dollar. Canadian data for the week is complete. US ISM PMI figures are scheduled for release on Friday to conclude the trading week, with expectations for a flat reading in December at a contractionary 48.4. Canadian Dollar forecast: Loonie stuck awaiting technical correction The Canadian Dollar maintains a strongly bearish technical outlook entering 2025, with the Loonie hovering near multi-year lows against the US Dollar. The USD/CAD chart continues to trend near 1..
Canadian Dollar US Dollar Loonie PMI Risk Appetite
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canadian Dollar remains clipped near multi-year lowsThe Canadian Dollar (CAD) struggled to find direction on Monday, kicking off a new trading week digging in near familiar lows.
Read more »
Canadian Dollar Remains Weak with Policy Divergence AheadThe Canadian Dollar (CAD) continues to decline against the US Dollar, hovering near multi-year lows. A lack of economic data releases and upcoming holiday closures are contributing to the market's subdued activity.
Read more »
Australian Dollar remains subdued as US Dollar gains ground due to Trump tariff threatsThe Australian Dollar (AUD) continues to struggle against the US Dollar (USD) on Friday.
Read more »
Australian Dollar appreciates as US Dollar remains subdued after a softer inflation reportThe Australian Dollar (AUD) steadies following two days of gains on Monday as the US Dollar (USD) remains subdued following the Personal Consumption Expenditures Price Index (PCE) data from the United States (US) released on Friday.
Read more »
Australia's Judo Bank Manufacturing PMI eases to 48.2 in December, Services PMI declines to 50.4The preliminary reading of Australia's Judo Bank Manufacturing Purchasing Managers Index (PMI) eased to 48.2 in December from 49.4 in November, the latest data published by Judo Bank and S&P Global showed on Monday.
Read more »
US S&P Global Manufacturing PMI declines to 48.3 in December, Services PMI improves to 58.5US S&P Global Composite PMI rose to 56.6 in December's flash estimate from 54.9 in November, showing that the business activity in the US' private sector continued to expand at an accelerating pace.
Read more »