There were no major moves during the Asian trading session, however we have some events today, which may affect the sentiment in the market.
Trade the Canadian dollar on the economic data
The levels of monthly GDP and core retail sales for Canada are expected on December 21, at 15:30 MT time.
Last time analysts forecast GDP to increase by 0.1%, however, the actual data showed a decline of 0.1%. As for retail sales, the actual data released last month outperformed the anticipated increase of 0.1% by the analysts. If this time the releases are higher than the expectations, the CAD will be supported.
• If the indicators are higher than expected, the CAD will rise;
• If the indicators are lower than expected, the CAD will fall.
The risk sentiment remains under pressure after the comments by China about the countermeasures against the US tariffs. Thus, the AUD/USD and the USD/JPY pairs will be under our attention.
During the European trading session, both the US and the UK yield curves inverted.
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