Canadian GDP: the end of loonie’s consolidation?
Canada will announce its monthly GDP on July 31, at 15:30 MT time.
The CAD falls on the weaker-than-expected retail figures
The level of retail sales released today came out lower than the forecasts. The headline indicator declined by 0.1% (vs. +0.3% expected), while its core level fell by 0.3% (vs. +0.3% expected). The news weakened the Canadian dollar significantly. On H4, USD/CAD tested the highs above the strong 1.3091 level. The next resistance lies at 1.3132. If bears get stronger, they will pull the pair lower to the support at 1.3078 (100-period SMA). The next support will lie at 1.3048.
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Will the US economy help the greenback?
The United States will release the advance GDP growth rate for the previous quarter on July 30, at 15:30 MT time.
USD is waiting for the jobless claims!
The US unemployment claims are announced on Thursday at 15:30 MT time.
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Eyes on US retail sales
Follow the report on August 14 at 15:30 MT time!
Main market movements on August 13
The market sentiment switched to risk-on. The US dollar is dipping down, while riskier assets are rising, especially the Australian dollar after the positive employment data. All eyes on US unemployment claims.
Tesla announced a stock split
Everyone is talking about a stock split of Tesla. What is it?
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