USD / CAD started the week with slight losses In Monday’s North American session, the pair is trading at 13260, down 0122% on the day
It’s a calm start to the week on the fundamental front, which means it could be an uneventful start to the week for the USD / CAD There are no Level 1 versions outside of Canada or from the United States on Monday In Canada, wholesale sales slowed to just 0 3%, down from 43% a month earlier Yet this beat the estimate of 01% The Bank of Canada released its report on business outlook, which is released quarterly The report found that companies expect the pace of the sales recovery to slow. In addition, the report says there are indications that « the pace of the recovery will slow down and be uneven across industries « This release is useful in gauging the mood of the business sector, and the results are a reminder that Canada’s economic recovery is precarious, which could cause difficulties for the dollar Canadian
Critical manufacturing could also slow Friday, manufacturing sales in Canada hit -20%, its first drop in four months The Canadian dollar managed to ignore weak data, but if upcoming manufacturing releases also indicate a drop will increase the pressure on the Canadian dollar
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