How Low Can the EUR Plunge?
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Retail data for Canada is an opportunity for the CAD
Canada will announce the Canadian retail sales and core retail sales on August 21, at 15:30 MT time
Instruments to trade: USD/CAD, CAD/JPY, EUR/CAD
The indicator of retail sales shows the change in the total value of sales at the retail level. The core version of this indicator is almost the same but without automobile sales. Last time, both indicators came out not as high as they were expected to be. While the headline indicator increased by 18.7% (vs. +20.2% expected), the core one rose by 10.6% (vs. the forecast of +11.9%). Despite the negative release, the CAD strengthened against the weaker US dollar. However, this time the situation may be completely different.
- If the indicators are higher than the forecasts, the CAD will go up;
- If the indicators are lower than the forecasts, the CAD will go down.
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