USDCAD is still trading within its 150 point range, since March 03, the longer it stays within it, the chances of a large price swing become more predictable. If it breaks the top of the range 1.3440, then 1.3650 is likely, and on the downside 1.3085 is likely, if 1.3290 is broken.
Canada’s retail sales bounced back more sharply than expected in February after three months of declines. Following a downward revised 0.4 percent decline in January, sales rose 0.8 percent in February, beating the consensus forecast with the largest monthly increase in nine months. Annual growth rose from a revised 0.9 percent to 1.8 percent.
Currently Close Range
USDCAD 1.3373 1.3341 1.3336-1.3400
EURCAD 1.5033 1.5069 1.5026-1.5097
GBPCAD 1.7391 1.7399 1.7383-1.7430
Prior Actual
CA: Retail Sales February M/M -0.4% 0.8%
Y/Y 0.9% 1.8%
US: Retail Sales March M/M -0.2% 1.6%
Y/Y -0.2% 1.2%
Jobless Claims wk4/13 197K 192K
Philly Fed Business Outlook April 13.7 8.5
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