The Canadian Dollar traded sideways against the US Dollar, following the Canadian Retail Sales data release on Friday at 12:30 GMT. The EUR/USD exchange currency rate gained 6 pips or 0.04% after the release. The Canadian Dollar continued trading at the 1.4015 level against the Greenback after the release.
Statistics Canada released the Canadian Core Retail Sales data, which came out better-than-expected of negative 0.4% compared with the forecast of negative 4.8%.
According to the official release: "Retail sales fell for the first time in five months, plunging 10.0% to $47.1 billion in March. This drop is the largest on record and is comparable to the retail sales decline observed in the United States (-7.1%) and other countries in the wake of COVID-19. As a result of this pandemic, many Canadian retailers shut down operations mid-month, curtailed hours and customer flow in the stores that remained open, all of which contributed to changes in the shopping habits of consumers."
| Date | 24.01.20 | 21.02.20 | 20.03.20 | 21.04.20 | 22.05.20 |
|---|---|---|---|---|---|
| Actual | 0.2% | 0.5% | -0.1% | 0.0% | -0.4% |
| Forecast | 0.5% | 0.4% | 0.2% | 0.3% | -4.8% |
| Pair | Open | Close | Change |
|---|---|---|---|
| AUD/CAD | 0.91448 | 0.9145 | 0.00% |
| CAD/CHF | 0.6935 | 0.69312 | -0.05% |
| EUR/CAD | 1.52708 | 1.52832 | 0.08% |
| USD/CAD | 1.40093 | 1.40134 | 0.03% |
| Pair | Longs | Shorts |
|---|---|---|
| AUD/CAD | 42.0% | 58.1% |
| CAD/CHF | 63.1% | 36.9% |
| EUR/CAD | 49.9% | 50.1% |
| USD/CAD | 37.0% | 63.1% |
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