When performing transactions in the OTC Forex market, the possibility of making a profit is inextricably linked with the risk of losses. Ownership and other rights to the underlying assets are not transferred to clients.

CAD sinks pressured by weak domestic data and oil decline

The Canadian dollar is the worst performing G10 currency today. One can name lacklustre domestic data as a reason behind the drop. Namely, manufacturing sales in December slumped 1.3% MoM (expected advance of 0.4% MoM). Apart from that, as Canada’s reliance on oil industry is quite significant, Loonie is taking a hit from declining crude prices. USDCAD trades at 1.3321 (+0.50%) at 2:53 pm GMT.

German ZEW index deteriorated further in August
Chart of the day- Copper (16.08.2022)
Economic calendar: German ZEW index, Walmart earnings
Morning wrap (16.08.2022)
BREAKING: Oil plunges over 4.0%