Retail Sales in Canada

• Core Retail Sales (MoM) (November), fact -0.6%, forecast -0.4%.
• Retail sales (m/m) (November), fact -0.9%, forecast -0.6%.

Data for Canada were very negative, exacerbating concerns about inflation. At the same time, this decline also remains quite significant lately, giving up volatile indicators of the beginning of 2018.

Fig. 1. Chart of a core index of retail sales in Canada

 

Weak statistics supported the pair USD/CAD first of all, causing the pair’s growth on a rebound from the level of 1.3300, resistance was located at the levels: 1.3350 and 1.3370. Also, the Canadian dollar decline has returned the US dollar index to growth, which continues to trade in the lateral dynamics.

Fig. 2. USD/CAD chart. Current price – 1.3340

Read also: “Fundamental Analysis.Basics and what to pay attention to the trader”

Hanzenko Anton

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