2:36 PM · 19 November 2021

BREAKING: CAD strengthens after retail sales data from Canada

Canada retail sales data for September was released at 1:30 pm GMT. Report turned out to be betterthan expected and caused some moves on the market. Highlights of the report:

• Headline: -0.6% MoM vs -1.7% MoM expected (2.1% MoM previous)

• Ex-autos: -0.2% MoM vs -1.0% MoM expected (2.8% MoM previous)

USDCAD pair bounced off upper limit of the wedge formation which coincides with resistance at 1.2660 after today's data release and is heading towards support level at 1.2600. Source:xStation5

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