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FxWirePro: USDCAD trades lower on better than estimate Canadian retail sales, good to sell on rallies

USD/CAD has lost nearly 50 pips from high of 1.32294 after slightly better than anticipated Canadian retail sales. Canadian retail sales m/m came at -0.1% compared to forecast -0.3% but better than previous month -0.9%. The pair hits low of 1.31866 and shown a minor recovery. It is currently trading around 1.31948.

 

On the higher side, near term resistance is around 1.3230 and any break above targets 1.3265/1.3300.

 

The near term support is around 1.3180 and any violation below will drag the pair to next level till 1.3150/1.3079.

 

It is good to sell on rallies around 1.3203- 1.3205 with SL around 1.3265 for the TP of 1.3078.

 

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May 24 19:00 UTC Released

USCattle Marketed

Actual

106.9 %

Forecast

106.6 %

Previous

97 %

May 24 19:00 UTC Released

USCattle Placed On Fd

Actual

108.7 %

Forecast

113 %

Previous

105 %

January 31 00:00 UTC 690357690357m

ARAnnual Primary Balance*

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2016 bln ARS

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January 31 00:00 UTC 690357690357m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 702177702177m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 690357690357m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 702177702177m

ARTrade Balance

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Forecast

Previous

-1541 %

January 31 00:00 UTC 690357690357m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 690357690357m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 690357690357m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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