Instruments to trade: USD/CAD, EUR/CAD, GBP/CAD
Canada’s retail sales will be out on Friday at 15:30 MT time. The last report marked the fifth monthly increase in a row, and the first time actual retail sales come out better than the estimates: 1.1% vs. the forecast of 0.2%. These days USD/CAD is trading at its multiyear low levels driven by the weakness of USD. If this time Canada’s retail sales beat expectations again, the pair will fall even deeper. Follow the report and catch the market flow!
- If sales come out better than the forecasts, the CAD will surge.
- Otherwise – the CAD will drop.
Check the economic calendar