CANADIAN DOLLAR SHEDS WEIGHT ON RISK-OFF MONDAY
- he Canadian Dollar continues to lose ground to the Greenback.
- Markets have tilted into a broadly risk-off stance to kick off the new week.
- Canada remains largely absent from the economic calendar until Friday.
The Canadian Dollar (CAD) backslid into long-term averages against the US Dollar on Monday, with markets opening up the new trading week notably on the back foot. Investors pulled back into the safety of the Greenback, sending the Canadian Dollar skidding into three-week lows.
Meaningful economic data from Canada remains entirely absent from the economic data docket this week, at least until fresh prints in Canadian labor data, due on Friday. Canadian Trade Balance figures are due on Tuesday but are almost guaranteed to have little to no market impact.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.