With the lack of releases from Canada, USD/CAD trading took its cues from the Greenback and unfortunately for the Loonie, this meant another day of losses. After opening at 1.0029, USD/CAD trickled higher and finished at 1.0068, marking a 29-pip gain.
Today, we FINALLY have something coming out from Canada, as manufacturing sales figures are due at 12:30 pm GMT. Expectations are that sales grew by 0.4%, which would be a nice change-of-pace from the previous month’s -0.3% decline. If this comes in better-than-expected, it could give the Canadian dollar a nice boost up the charts.
"The only cable I watch is the pound baby."