Canada enjoyed a strong day yesterday as crude oil gained for the second day in a row. Oil futures rose by 2.7% in New York last week, which contributed to Canadian stocks rising by 1% in the last week – this is after a fall of 4.2% in August, the worst this year. The Canadian economy also had some fortuitous data in terms of manufacturing sales yesterday, with results published 0.6% above expectation. This helped them to achieve a 0.5% gain on their North American Counterparts.
There is no significant data out today from Canada, so its currency will look to events elsewhere for potential movement, before inflation data is released on Friday.
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