Initially Canada’s retail sales caused the Canadian dollar to rally to 1.3360 level, breaking the 60 day simple moving average of 1.3392, it beat all expectations. However, the oil inventory numbers surged, diminishing signs of supply worries in the near term. West Texas Intermediate fell 2.8%, down $1.76 USD, to $61.37 a barrel, the CAD has come back to basically unchanged, again still within the range.
Currently Close Range
USDCAD 1.3415 1.3410 1.3358-1.3421
EURCAD 1.4970 1.4962 1.4925-1.4973
GBPCAD 1.7003 1.7033 1.6903-1.7051
Prior Actual
CA: Retail Sales March M/M 1.0% 1.1%
Y/Y 1.8% 2.6%
US: Petroleum Status Report wk5/17
Crude Oil 5.4M Brls 4.7M Brls
Gasoline -1.1M Brls 3.7M Brls
Previous
