U.S. economic growth intact

This morning’s U.S. retail sales seems to be a combination of a couple of factors, one, consumers are spending more because they are buying more items, and two, they are spending more because the cost of the underlying item costs more itself, also perhaps another factor may be that consumers are spending more now than later on the chance there may be no supplies in December to purchase.

Equities on both sides of the 49^th parallel are doing better, as well as the USD which is stronger to most currencies including the CAD. Even as energy prices move higher, their impact has had little effect on the CAD today.

Expect a narrow range with a weaker CAD.

                                Currently             Close                     Range

USDCAD               1.2550                   1.2511                   1.2492-1.2556

EURCAD               1.4222                   1.4225                   1.4215-1.4254

GBPCAD               1.6860                   1.6791                   1.6774-1.6877

*Indicative Rates Only