The Canadian Dollar found new lows against the Greenback on Thursday.
Canada remains largely absent from the economic calendar until next week.
US PPI inflation accelerated faster than expected for the year ended October.
The Canadian Dollar (CAD) backslid into new lows against the Greenback on Thursday, slipping to a fresh 54-month low and sending the USD/CAD pair to its highest prices in four and a half years. The pair broke through the 1.4000 handle, with the US Dollar getting sent even higher on the back of a slight upswing in US Producer Price Index (PPI) inflation figures on Thursday, sending the Loonie to multi-year lows.
Canada remains absent from the economic calendar this week with a notable lack of meaningful data releases on the radar. CAD traders will be forced to sit on their hands until next Tuesday’s Canadian Consumer Price Index (CPI) inflation update for October, which is unlikely to deliver much good news to Loonie fans.
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.
Hot
No comment on record. Start new comment.