The Canadian is losing ground. Inflation and retail sales in Canada

The Canadian dollar fell sharply against the US dollar amid mixed data on retail sales and inflation in Canada.

• According to published data, retail sales increased by 0.4%, exceeding the previous value of 0.1%.
• The base retail sales index changed by 0.0% in February, against the January growth of 1.0%.
• The consumer price index rose in March by 0.3%, which is below the February value of 0.6%. The annual growth rate was 2.3%, which is higher than the previous value at the level of 2.2%.

Technical Analysis: Despite the decline of the Canadian, the pair USD/CAD is still in a downtrend in the short term. The support levels are: 1.2622, 1.2585, 1.2550. The nearest resistance level is 1.2730, if the price is fixed above this level, one should expect the pair to rise to 1.2795, 1.2835.

Fig. GBP/USD. The current price is $ 1,2704.

Alexander Sivtsov