Trade on the Canadian economic data

Trade on the Canadian economic data

The Canadian dollar has chances to keep trading at good levels. According to the recent statement of the Bank of Canada, the country’s economic data are in line with the forecasts. And although trade tensions and worries about the emerging markets affect commodity prices, the bank stays optimistic. As a result, for the central bank to raise interest rates rather sooner than later, the economic data should continue being encouraging.Retail sales data will be released at 15:30 MT time on September 21. The release is important for traders as it displays a change in the total value of sales at the retail level.

• If retail sales data is greater than forecast, the CAD will rise.

• If retail sales data is weaker than forecast, the CAD will fall.

Check the economic calendar

CAD sales.png

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