- The Canadian dollar continues to struggle as it remains at its lowest point against the US dollar since July 2009. This has been due to the gradual plummet of crude oil dropping below US$80 a barrel. Canada’s central bank is trying to talk up the economy and re-affirming the expectations of following the US with any policy changes. Today we will see Purchasing Managers’ Index (PMI) PMI data out from Canada at 3pm which would be a good indication on the strength of the Canadian economy.
- Some more weak data from China’s economy impacted the Aussie dollar today, which suffered across the board and almost at its lowest point since March against sterling. Early in the morning today, important unemployment data is released. This is forecast to remain at 6.1%. There is also hiring data out which forecast to come in at 10,000 after losing 30,000 in September, if the forecast is correct this should help the currency recover.
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