08:04 AM EST, 01/07/2025 (MT Newswires) -- While the Canadian dollar (CAD or loonie) received a lift from Prime Minister Justin Trudeau's resignation on Monday, the big drop in the country's composite PMI to 49.0 in December from 51.5 in November -- services contracting to 48.2 from 51.2 -- serves as a reminder that the Bank of Canada has more work to do even as the United States Federal Reserve moves to the sidelines -- at least for now, said Rosenberg Research.