USD/CAD retreats from 5-year highs

FXStreet (Córdoba) - The loonie is rising against the US dollar for the first time in a week, retreating from 5-year lows. USD/CAD peaked yesterday at 1.1672 and then pulled back. Currently it trades at daily lows at 1.1622, holding a bearish tone after breaking an intraday support located at 1.1630.

USD/CAD down despite data and crude oil

Statistics Canada announced that manufacturing shipments declined 0.6% during October after rising 2.2% in September. Expectations were for a smaller drop of 0.4%.

USD/CAD was unaffected by the economic numbers and is falling despite the decline in crude oil price. The barrel reached a new low today at $54.00.