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USDCAD Pare Losses After Better Than expected ISM Non-Manufacturing PMI
USDCAD pare early losses and reverse three days of losses as the risk-on sentiment shift investors attention from the safe-haven USD to more risky assets. The U.S. ISM Non-Manufacturing PMI came in at 57.1, beating the expectations of 50.1 in July. The ISM Non-Manufacturing New Orders Index registered in at 61.6 also above the forecasts of 44 in June. The ISM Non-Manufacturing Employment Index registered in at 43.1, topping the estimates of 30.7. The United States Services PMI registered in at 47.9, above the analyst’s expectations of 46.7 in June. The PMI Composite came in at 47.9, topping the estimates of 46.8. ... (full story)