The Canadian dollar srtengthened against the Greenback, following the Canadian CPI data release. The USD/CAD currency pair lost 66 pips, or 0.50%, to continue fluctuating in the 1.3159 area.
The Statistics Canada released Consumer Price Index data that came in line with expectation of 0.1%, but lower from the previous period 0.1%.
The data was published together with Canadian Retail Sales, which came out better-than-expected of 1.4% compare to 0.4% forecasted, which boost the pair downward. A senior economist at CIBC World Markets Royce Mendes have said: "The biggest surprise was the ex-autos reading in retail sales," and added "It blew past expectations. This was a lot of people coming back to stores after weather affected April's numbers."
| Historical Data Table: UK Retail Sales | Economic Calendar for 23.07.2018 | ||||||||
| Date | 22.03.2018 | 19.04.2018 | 24.05.2018 | 14.06.2018 | 19.07.2018 | 2:00 PM | EU Consumer Confidence | ||
| Actual | 0.80% | -1.20% | 1.60% | 1.30% | -0.50% | 2:00 PM | US Existing Home Sales | ||
| Forecast | 0.40% | -0.50% | 0.80% | 0.50% | 0.10% | 5:00 PM | UK MPC Member Broadbent Speaks | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| GBP/USD | 1.30209 | 1.2987 | -0.26% | GBP/USD | 66.79% | 33.21% | |||
| EUR/GBP | 0.89164 | 0.89362 | 0.22% | EUR/GBP | 27.94% | 72.06% | |||
| GBP/CAD | 1.72078 | 1.7169 | -0.23% | GBP/CAD | 47.47% | 52.53% | |||
| GBP/JPY | 147.142 | 146.718 | -0.29% | GBP/JPY | 51.17% | 48.83% | |||