Market updates on October 16
The escalation of the US-China trade dispute and the Brexit uncertainties keep affecting the market. Read more!
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.
Similar
Brexit deal is close? GBP/USD has risen by more than 140 pips!
The reports that the UK and the EU are close to complete a draft Brexit deal have pushed the British pound higher.
Will the indicators bring chance to the USD bulls?
The United States will publish the indicators of retail sales and core retail sales on October 16, at 15:30 MT time.
Latest news
Market updates on October 16
The escalation of the US-China trade dispute and the Brexit uncertainties keep affecting the market. Read more!
Brexit deal is close? GBP/USD has risen by more than 140 pips!
The reports that the UK and the EU are close to complete a draft Brexit deal have pushed the British pound higher.
Market updates on October 15
The GBP is going to be volatile today, while USD/TRY may be looking for a retest of its highs. Read more!
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