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Canadian Dollar's win streak ends despite firm Retail Sales beat

2024-06-21 17:58:57.045000

The Canadian dollar's five-day win streak against the US dollar came to an end despite better-than-expected core Retail Sales in April. The Canadian dollar struggled to overtake the US dollar after the US Purchasing Managers Index (PMI) beat forecasts, boosting the greenback. However, floundering industrial and raw materials prices in May limited the Canadian dollar's upside moves. The US PMIs surged higher in June, pushing the US dollar higher across the board. Despite the setback, the Canadian dollar remains broadly higher on the week, holding onto a fifth of a percent gain against the US dollar from Monday's opening bids [8f2d9965].

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