Canadian Dollar struggles to recover ground as market sentiment pulls into the middle

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The Canadian Dollar (CAD) found a thin recovery on Friday, gaining ground against most of its major currency peers and clawing back a scant tenth of a percent against the US Dollar (USD). Market sentiment has continued to drag throughout Friday's US session, pulling the CAD into middling bids against the Greenback. A missed in Canadian Manufacturing Sales was broadly brushed off, and an unexpected backslide in the University of Michigan’s (UoM) Consumer Sentiment is throwing a cautionary wrench in market sentiment to wrap up the trading week. Manufacturing and Wholesale Sales in Canada saw a milder recovery from recent contractions than expected, but market sentiment is largely focused elsewhere after the UoM Consumer Sentiment Index fell to a six-month low, and 5-year Consumer Inflation Expectations ticked higher in June.

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