Loonie remains under pressure as manufacturing sales contracted to 0.3%

Loonie remains under pressure as manufacturing sales contracted to 0.3%

By: Simon Furman | Where To Trade | On:Tuesday, November 22, 2016
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Where to Trade - UK Labor Data is expected to put pressure on Pound, that had a previous close at 1.2492. Cable should remain under pressure as unemployment increases.

Loonie remains under pressure as manufacturing sales contracted to 0.3%.

New Zealand Retail Sales figures will be released today, and the data is projected to increase. This makes the Dollar to be under pressure against the Kiwi. The pair had a previous closing at 0.7065.

US Existing Home Sales will be released at 16:00 GMT. The data are projected to decrease.

Euro finds support against the dollar. Dollar heads lower as Leading Consumer Inflation data contracts. The Euro Dollar pair had a previous close at 1.0631.

Politics are supposed to be the primary drive for the S&P 500. The S&P 500 heads higher thanks to Trump's trade.  In the previous session, the S&P 500 closed at 2,193.

Dollar should head lower against the Loonie during the release of Canadian Core Retail Sales, at 14:30 GMT. The pair had a previous close at 1.3418.

Video Summary:

  • United Kingdom: UK Labour Data is expected to put pressure on Pound
  • Canada: Loonie remains under pressure 
  • Europe:. Euro finds support against the dollar
  • United States of America: The S&P 500 heads higher thanks to Trump's trade
Simon Furman

Simon Furman

Think Global - Act Local

Simon Furman is one of the best financial analyst with 27 years of trading experience

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