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17 Mar 2020

Canada: Manufacturing Sales fell 0.2% in January vs. -0.5% expected

Manufacturing Sales in Canada declined less than expected in January.
USD/CAD continues to trade above 1.41 after data.

Manufacturing Sales in Canada contracted by 0.2% in January to $56.1 billion, Statistics Canada reported on Tuesday. This reading marked the fifth straight monthly decline and came in slightly better than the market expectation for a fall of 0.5%.

"In volumes terms, manufacturing sales decreased 0.4%," Statistics Canada further noted in its publication.

USD/CAD reaction

The USD/CAD pair edged lower on this data but continues to trade at its highest level since January of 2016 at 1.4115, adding 0.7% on the day.

Mar 17, 2020

Turkey: CBRT cut 100bps and the lira surges – TDS

The CBRT has surprised the market by announcing at 11:08 GMT a 100bps cut of its benchmark repo rate. USD/TRY trades at 6.492 after rising with the ne

Coronavirus: Choosing a new market direction

What a trader wants is the right side of a new trend. It is not necessary to pick the turning point, Joseph Trevisani, an analyst at FXStreet, advises