Get Even More Visitors To Your Blog, Upgrade To A Business Listing >>

USDCAD shrugs as retail sales impress

USDCAD shrugs as Retail Sales impress

Daily Forex Signals by FxPremiere.com | The Canadian dollar continues to show limited movement. Currently, the pair is trading at 1.3053, down 0.15% on the day. There are no US economic releases on the schedule. Worst Levels in a Month for Pound to Canadian Dollar EX

Canada retail sales sparkle

Live Fx Signals

Canada ended the trading week in style, as retail sales for September were much stronger than expected. Headline retail sales jumped 1.1%, up from 0.4% beforehand. Core retail sales also impressed, climbing from 0.5% to 1.0%. Analysts had projected much weaker figures, with forecasts of 0.2% for the headline figure and 0.0% for core retail sales. Despite the strong numbers, the Canadian dollar has only managed small gains on Friday. UK’s Jenrick EU needs to show flexibility on Brexit

Trading Signals

Will consumers continue to keep the purse strings open? The Covid-19 pandemic has caused tremendous economic damage, and there are serious concerns that a resurgence of Covid could have a severe impact on the normally robust Christmas shopping season. With the Canadian economy taking tenuous steps in recovery, a disappointing Christmas could spell trouble for the economy and the Canadian dollar. Pound to US Dollar Exchange Struggle

Canada ADP nonfarm payrolls show contraction

The Canada ADP Nonfarm Employment Change report continues to show declines in job creation. The October reading came in at -79.5 thousand, marking a third straight decline. Still, this was considerably better than the September release of -240.8 thousand. The ADP releases, which are derived from actual ADP payroll data, have been much weaker than the official employment releases. Employment Change for October showed a gain of 83.6 thousand, which was down from 378.2 thousand, but still higher than expectations. We’ll get a clearer picture of the strength of the labor market in the first week of December, with the release of Employment Change. Pound Euro (GBP/EUR) Exchange Rate

USDCAD shrugs as retail sales impress

Forex Signals Telegram Signals

Forex Signals Telegram Signals

  • There is weak support at 1.3040. Below, there is a support line at 1.3011
  • We find resistance at 1.3110, followed by resistance at 1.3151
  • USD/CAD continues to press downwards on the 10-day MA line. If this lines breaks, it would be an indication of a downturn for the pair. Euro Shrugs Off Strong Growth

Check out our Free Forex Signals Telegram Channel

Trade better, discover more Forex Signals Strategies
Better Still Sign Up For our FX Signals Daily
Read more on Forex News Today
Download our Forex Signals APP

Join our 21,345  Subscribers Forex Signal Packages!!

The post USDCAD shrugs as retail sales impress appeared first on Daily Forex Signals.



This post first appeared on Forex Signals Learning, please read the originial post: here

Share the post

USDCAD shrugs as retail sales impress

×

Subscribe to Forex Signals Learning

Get updates delivered right to your inbox!

Thank you for your subscription

×