• The Canadian Dollar found new lows against the Greenback on Thursday.
• Canada remains largely absent from the economic calendar until next week.
• US PPI inflation accelerated faster than expected for the year ended October.

The Canadian Dollar (CAD) backslid into new lows against the Greenback on Thursday, slipping to a fresh 54-month low and sending the USD/CAD pair to its highest prices in four and a half years. The pair broke through the 1.4000 handle, with the US Dollar getting sent even higher on the back of a slight upswing in US Producer Price Index (PPI) inflation figures on Thursday, sending the Loonie to multi-year lows.

Canada remains absent from the economic calendar this week with a notable lack of meaningful data releases on the radar. CAD traders will be forced to sit on their hands until next Tuesday’s Canadian Consumer Price Index (CPI) inflation update for October, which is unlikely to deliver much good news to Loonie fans.