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On Friday, the greenback rallied versus its Canadian rival, notwithstanding the publication of positive data from Canada as well as overall caution as for the US currency because a steep dive in crude prices affected demand for Canada's commodity-related currency.
The currency pair USD/CAD rallied 0.17% being worth 1.2442.
Market sentiment on the US dollar was still fragile as on Thursday American lawmakers were unable to agree on a federal budget deal. It powered fears of a probable government shutdown already this weekend.
Another factor was that the yield on the American 10-year Treasury demonstrated its highest value since 2014.
In Canada, Friday’s data revealed that in November manufacturing sales tacked on 3.4%, surpassing hopes for a 2.0% leap. As for manufacturing sales, they lost 0.6% in October.
The Canadian dollar was still the downside right after on Wednesday the Bank of Canada lifted its overnight cash rate from 1% to 1.25%.
Versus the common currency the Loonie slumped, with EUR/CAD adding 0.17% trading at 1.5225.
Reportedly, the ECB is analyzing the possibility of the change of the current inflation target of "below but close to 2%". It weakened the EUR
What is important today?
USD/SGD rises as the indicators disappoint the market.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…
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