Canadian dollar perky ahead of retail sales report via ForexLive

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The main slice of economic data in North American trading is the Canadian retail sales report at the bottom of the hour.

The consensus is for a 0.5% rise in July following a 1.1% rise the month before. On the ex-autos side, the consensus is for a flat reading after a 1.5% rise in June.

The previous report was super-strong and included upward revisions to the May data so there might be a bit of give-back. Sales have exceeded estimates for three months in a row.

On ex-autos, estimates range from -0.8% to +0.4%.

USD/CAD is near 1.1000 and flirting with the 50% retracement of yesterday's gains ahead of the data.

USDCAD 10 minute chart Sept 23

posted via ForexLive

Posted In: ForexGlobalEconomics
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