Fundamentals: USDCAD Stuck on Rate Change

The Canadian docket was empty today. However, the Canadian dollar continued to stumble on yesterday?s rate decision and the dovish rhetoric that followed. Addition declines followed as news bond revaluations from S&P and Moody?s provoked a “flight to quality.” Tomorrow, Canada looks to a plethora of economic data which may only further the Loonie?s weakness.

[B]Previous 24 Hours:
[/B]There were no economic indicators scheduled for Canada over the past 24 hours.
[B]Next 24 Hours:
New Housing Price Index[/B] (MoM) (MAY)
Expected: 0.5%
Previous: 0.8%
[B]International Merchandise Trade[/B] (Canadian dollars) (MAY)
Expected: 5.5B
Previous: 5.8B
[B]Merchandise Exports[/B] (MAY)
Expected: 0.5%
Previous: -0.3%
[B]Merchandise Imports[/B] (MAY)
Expected: 1.0%
Previous: -2.2%
[B]Bank of Canada Releases the Monetary Policy Report Update[/B]
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