US Dollar/Canadian Dollar soars to 1.2635 (a 0.53% gain) after closing the previous session at 1.2569 .
A good end to the trading week, after ending the previous week at 1.2569, USD/CAD went up to 1.27 only to drop back to midpoint range and now trades at 1.2635. (Trade US Dollar/Canadian Dollar with FXTM now).
US Dollar/Canadian Dollar's green move takes place amid mixed market indicators — Canada Core Retail Sales fall short of the 1.3% projections, with 1.1% and continued its downward trajectory from previous figure of 1.3%. Canada Core Consumer Prices released Wednesday with a figure of 0%, while the previous figure was 0.6%.
At the same time, Canada Manufacturing Sales (MoM) is released with a new figure of 0.8, this is down from preceding data of 2.6. Canada New Housing Price Index (MoM) (Dec) fall short of the one projections, with 0.2 and continued its downward trajectory from previous figure of 0.8. Canada Retail Sales published Friday came out at 0.7%, falling short of the 1.2% projections and continuing its decline from the previous 1.5% figure.
Outlook for rest of the week: The market is looking forward to the release of new data: Canada Interest Rate is expected Wednesday. Canada BOC Press Conference set for Wednesday. Canada Wholesale Sales (MoM) (Nov) scheduled to come out Wednesday.