Overall, USD/CAD is trending downwards.
The Canadian retail sales data released last Friday indicated a rebound in consumer spending in August from July’s decline.
- Core Retail Sales m/m (Actual: 2.8%, Forecast: 2.6%, Previous: -0.4% revised from -1.0%)
- Retail Sales m/m (Actual: 2.1%, Forecast: 2.0%, Previous: -0.1% revised from -0.6%)
USD/CAD’s next support zone is at 1.22600 and the next resistance zone is at 1.24500.
Look for short-term selling opportunities of USD/CAD.
Rate an article for points!