Risk-on start of the week
The market sentiment is positive at the start of the week despite constantly rising virus cases all over the world.
Retail sales are moving this week
Canada will publish the monthly retail sales and core retail sales on November 20 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 were not so encouraging. While the headline indicator increased by 0.4% (vs. +1% expected), the core one rose only by 0.5% (vs. the forecast of +0.9%). The Canadian dollar weakened after the release.
- If the indicators are higher than the forecasts, the CAD will go up;
- If the indicators are lower than the forecasts, the USD will go down.
Similar
Retail sales may strengthen the USD
The USA will publish retail sales and core retail sales on November 17, at 15:30 MT time.
Will the job data make the AUD fly?
The Australian employment change and the unemployment rate will be released on November 19, at 02:30 MT time.
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Strong EUR vs weak USD
S&P 500 takes a pause near the all-time high, while the US dollar remains at the lowest levels since 2018.
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