The Canadian dollar continues to be heavily influenced by the trade in the global oil price. As the Chinese stock market crash reverberates around the world the oil price collapse continues unabated.
With Brent crude hitting an eleven year low of just $33 the Canadian dollar lost further ground to the US dollar at one point trading at a new fresh 12 year high above 1.41.
The Canadian manufacturing sectors continues to slow. Output and new business orders reported in October 2015 highlighted the deepest declines since October 2010.
Canada also delivers its employment data later today where the market will hope that the unemployment rate hold at 7.1% rather than climb.