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USD/CAD Loonie Lower as Oil Price Plummets on Brexit and Global Growth Fears

From marketpulse.com

The Canadian dollar is trading lower versus the U.S. dollar after the end of the Fourth of July holiday. Energy prices have fallen after the concern of investors about the multiple economic slowdown signals around the globe. Crude prices are down over 4 percent today after Brexit fears and anxiety surrounding a possible Italian referendum. Canadian Manufacturing Purchasing Managers Index (PMI) released on Monday showed a slowdown in manufacturing in the second quarter of 2016. The Manufacturing PMI was 51.8 versus last month’s 52.1. The reading is above 50 which means expansion, but the slowdown comes ahead of the ... (full story)

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