The Canadian Dollar (CAD) has continued its rally for a third straight day, trading at 1.3729 against the US Dollar (USD) on Wednesday, down 0.41% on the day. The rally comes despite the release of weak Ivey Purchasing Managers' Index (PMI) data for July. The Ivey PMI fell to 57.6, down from 60.0 in June and below the market estimate of 62.5. The decline in the Ivey PMI suggests a slowdown in Canada's economic activity. However, the CAD has remained resilient, supported by other factors such as the Bank of Canada's recent interest rate cuts. The central bank has lowered rates for a second straight time, trimming interest rates by 0.50%. Additionally, the markets have priced in a half-point rate cut from the US Federal Reserve in September at 63%. Despite testing support at 1.3743, the CAD has managed to maintain its rally against the USD. [52b2bdd0]