CANADIAN DOLLAR SLUMPS FURTHER AS MARKETS PILE INTO GREENBACK
- Canadian Dollar hits eight-week low after US PMI surge.
- Canada sees BoC Governor Macklem slated for Tuesday.
- US Fed policymaker statements weigh on Monday markets.
The Canadian Dollar (CAD) is broadly lower on Monday after a broad market dogpile into the US Dollar (USD) after US ISM Services Purchasing Managers Index (PMI) figures came in well above expectations. Additionally, mixed comments from US Federal Reserve (Fed) policymakers risk investor outlooks, hampering risk appetite.
Bank of Canada (BoC) Governor Tiff Macklem is slated to speak and answer questions regarding monetary policy transmission in Quebec on Tuesday, leaving the Canadian Dollar absent meaningful domestic releases on Monday
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