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June 05, 2023
Small gain for USD/CAD at 1.3431 after ranging between 1.3414 and 1.3462 today.
US Dollar-Canadian Dollar is currently trading at 1.3431 following the release of ISM Non-Manufacturing PMI (May) data from the United States.
At the same time, United States ISM Non-Manufacturing PMI (May) released today at 14:00 UTC with a figure of 50.3, while the previous figure was 51.9. United States Services PMI came out at 54.9, while a consensus of analysts was expecting 55.1. Factory Orders in United States fell short of market expectations (1.1%) with a reading of 0.4%, continuing the decline from the previous figure of 0.6%.
Meanwhile, GBP/NZD is down to 2.0459, losing 89 pips, after closing at 2.0548 in the preceding trading session. After ending Friday's session at 0.9087, USD/CHF lost 32 pips and is trading around 0.9054. GBP/JPY retreats 0.32% to trade around 173.74.
The market is looking forward to the release of new data: Canada Ivey PMI (May) will be released tomorrow at 14:00 UTC. Canada Building Permits figure is projected at -2.9%. It previously stood at 11.3%; data will be released tomorrow at 12:30 UTC. United States EIA Short-Term Energy Outlook is expected tomorrow at 16:00 UTC.
Having set a significant low of 1.1321 6 months ago, US Dollar-Canadian Dollar is trading 18.55% higher.
