Friday was a stagnant day for the Canadian dollar as it ended the day where it started. Poor manufacturing sales data led to a drop in the currency’s performance, but it strengthened again in the afternoon. This week, we see foreign securities purchases data out on Monday, but the more influential releases are out towards the end of the week. It has now been over a month since you could get 0.5 sterling for a Canadian dollar, and the steep curve looks set to continue unless there can be a drastic change in Canada’s fortunes.
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