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Disappointing report on Canadian wholesale sales triggered a sharp decline in the USD/CAD exchange rate. As data came in, the Greenback added against the Canadian dollar 12 base points, though in the next couple of hours the pair depreciated nearly 0.51% to continue trading a the 1.2770 level.
Statistics Canada revealed that the country's retail sales fell unexpectedly 1.2% in September, missing expectations for a 0.6% increase. The decline was due to diminished sales in the food and personal goods sectors. Weaker sales in most of the sectors confirmed projections for the Canadian economy to mark slower growth in the second half of this year.
| Historical Data Table: Canadian Wholesale Sales m/m | Economic Calendar for 22.11.2017 | ||||||||
| Date | 24.07.2017 | 21.08.2017 | 21.09.2017 | 23.10.2017 | 21.11.2017 | 1:30 PM | US Durable Goods | ||
| Actual | 0.9% | -0.5% | 1.5% | 0.5% | -1.2% | 7:00 PM | FOMC Meeting Minutes | ||
| Forecast | 0.5% | 0.6% | -0.7% | 1.1% | 0.6% | 9:45 PM | NZ Retail Sales | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/CAD | 0.97076 | 0.97126 | 0.05% | AUD/CAD | 71.55% | 28.45% | |||
| CAD/CHF | 0.77543 | 0.77423 | -0.15% | CAD/CHF | 40.13% | 59.87% | |||
| EUR/CAD | 1.50141 | 1.50333 | 0.13% | EUR/CAD | 25.63% | 74.37% | |||
| USD/CAD | 1.28091 | 1.28212 | 0.09% | USD/CAD | 49.64% | 50.36% | |||