The Canadian Dollar (CAD) is barely changed at all on the session, Scotiabank’s chief FX strategist Shaun Osborne notes.
The Canadian Dollar is barely changed at all on the session, Scotiabank’s chief FX strategist Shaun Osborne notes. Bulls may try to break above 1.3725/50 “Spot gains edged back above the 1.3725 area briefly—a couple of times—yesterday and remains close to that point this morning but the flat-ish range trade in place over the past week remains more or less intact.
Canada reports Manufacturing Sales, Housing Starts and International Securities Transaction data this morning. Preliminary Manufacturing Sales data for June, released with the May data, indicated a sharp, 2.6% m/m drop in sales in the month.” “The USD sell-off has stalled but signs of a reversal are—so far—absent. The CAD’s failure to exploit the push under 1.
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