Canadian Dollar is on downside

By MoneyWay | Apr 18, 2019

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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