US Dollar/Canadian Dollar moves up to 1.2769 (a 0.95% gain) after starting the week at 1.2649 .
A good end to the trading week, After dipping down to 1.2595, USD/CAD regains earlier losses, reaching 1.2769. (Trade US Dollar/Canadian Dollar with FXTM now).
US Dollar/Canadian Dollar green move takes place amid mixed market indicators - data for Canada Core Consumer Prices was released Wednesday suggests a downwards trend with 0.2%, while previous data was 0.6%. Data for United States Retail Sales released yesterday at 12:30 PM comes out at 0.7%, beating projections of -0.8% and showing improvement over the preceding figure of -1.8%. United States Core Retail Sales comes out at 1.8%, above the estimate of -0.1%. This is also a step forward from the previous data of -1%.
At the same time, Canada Wholesale Sales (MoM) (Jul) published yesterday at 12:30 PM came out at -2.1, falling short of the -2 projections and continuing its decline from the previous -0.8 figure. Canada Foreign Securities Purchases (Jul) is released with a new figure of 14.19 billion, this is down from preceding data of 19.64 billion.
Outlook for rest of the week: Market is looking forward for Thursday data for Canada Core Retail Sales will be released, with an expected decline to 4.6% from the preceding figure of 4.7%. Canada Retail Sales projected to outperform last figure with 4.4% while it previously stood at 4.2%, data will be released Thursday. Tuesday data for United States Building Permits will be released, with an expected decline to 1.60 million from the preceding figure of 1.63 million.
