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.

Economic calendar: Canadian retail sales in the limelight
USD recoups losses after Fed clarifies Williams and Clarida comments
US stocks recover; EUR slides as ECB mulls policy change
US stocks to start little changed; Philly Fed jumps
Euro loses ground as ECB mulls over inflation target change
When performing transactions in the OTC Forex market, the possibility of making a profit is inextricably linked with the risk of losses.