The Greenback weakened against the Canadian Dollar, following the Canadian Core Retail Sales release on Wednesday at 12:30 GMT. The USD/CAD currency pair lost 13 pips or 0.10%. The data release had an insignificant impact on the currency pair after which the candles recovered to the 1.3020 area.
The Statistics Canada released Canadian Core Retail Sales data that came out in line with the expectation of negative 0.1%. The data release represents the change in the total value of sales at the retail level, excluding automobiles.
The senior economist at TD Bank, Brian DePratto said: "With the economy performing well and core inflation measures solidly on target, the pieces are in place for another Bank of Canada policy interest rate hike this fall."
| Historical Data Table: Core Retail Sales m/m | Economic Calendar for 24.08.2018 | ||||||||
| Date | 23.11.2017 | 21.12.2017 | 25.01.2018 | 22.02.2018 | 22.08.2018 | 12:30 PM | US Core Durable Goods Orders m/m |
||
| Actual | 0.30% | 0.80% | 1.60% | -1.80% | -0.10% | 14:00 PM | US Fed Chair Powell Speaks | ||
| Forecast | 0.90% | 0.40% | 0.80% | 0.10% | -0.10% | 16:25 PM | CAD BOC Gov Poloz Speaks | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/CAD | 0.95839 | 0.95794 | -0.05% | AUD/CAD | 71.72% | 28.28% | |||
| CAD/CHF | 0.75334 | 0.75359 | 0.03% | CAD/CHF | 64.79% | 35.21% | |||
| EUR/CAD | 1.51341 | 1.51238 | -0.07% | EUR/CAD | 47.51% | 52.49% | |||
| USD/CAD | 1.30267 | 1.30167 | -0.08% | USD/CAD | 55.64% | 44.36% | |||