Canadian Dollar snaps win streak, heads back into the low end

The Canadian Dollar lost 0.4% to start the trading week.

Canada saw a better-than-expected print in PMI figures.

Despite upbeat data, the Loonie continues to struggle.

The Canadian Dollar (CAD) backslid another four-tenths of one percent against the Greenback on Monday. CAD traders pushed down the Loonie against the US Dollar despite an uptick in Canadian Purchasing Managers Index (PMI) figures for November as investors pivot to focus on this week’s US labor data dump that will culminate in another Nonfarm Payrolls (NFP) print on Friday.

Canada’s S&P Global Manufacturing PMI for November came in above expectations, printing at a nearly two-year high. However the upswing in manufacturing data has done little to stem the tide of middling economic reports from Canada in recent weeks, and broader markets shrugged at the one-off print.