Any optimism for the Canadian labor market?
Canadian Employment Rate and Unemployment Change are announced on April 9, at 15:30.
Retail sales report may push CAD down
The Canadian core retail sales will be announced on Tuesday at 15:30 MT time.
Instruments to trade: USD/CAD, CAD/JPY, CAD/CHF
This indicator reveals the change in the total value of sales at the retail level, excluding automobiles. Why without auto sales? They are volatile and can misrepresent the trend. The core retail sales report is a more relevant measure of the spending dynamic.
We must say that Canada as one of the world’s largest oil exporters has been already under pressure because of extremely low oil price these days. In addition, investors are now more cautious and risk-averse. As a result, safe-haven currencies are more favorable, leaving aside the Canadian dollar.
Anyway, after the release of the retail sales’ data we should be ready to catch the market momentum and react immediately. Pay attention to the CAD/JPY pair as it’s really sensitive to the market changes and you could gain from it in a short term.
If the indicator is greater than expected, it will push the Canadian dollar up, otherwise – down.
Similar
What are the details of the FOMC meeting?
FOMC will share its Meeting Minutes on April 7, at 21:00 MT time.
Will the Canadian GDP make the CAD stronger?
Canada will publish the monthly GDP growth on March 31, at 15:30 MT time.
Latest news
BTC skyrocketed as first crypto exchange goes public!
Coinbase Global Inc., the leading cryptocurrency exchange in the US, will go public on the Nasdaq index on April 14!
Will US inflation push USD further up?
The American inflation rate is announced on Tuesday at 15:30 MT. It’s an important event for traders as it will impact hugely currency pairs with the USD.
USD, gold, Alibaba and more on April 12
In this article, you'll find the latest news and tech analysis of EUR/USD, gold, and GBP/USD!
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