Canada reported a drop of 0.3% in the volume of retail sales in September, contrary to a rise of 0.1% expected. Also core retail sales fell short of expectations with a slide of the same scale, contrary to a rise of 0.2% predicted. For USD/CAD, it was a one-two punch: US inflation came out slightly better than expected and the greenback is strengthening across the board. USD/CAD is shooting higher, edging close o resistance at 1.1280, which was the previous 2014 high. On the way, it broke above resistance at 1.1240. The round number of 1.13 is getting close. Further in the distance, we have 1.1384 which is the 5 year high for the pair. Support is found at 1.12. For more, see the C$ forecast. Here is the chart showing the strong move higher: The Bank of Canada is set to release its rate decision at 14:00 GMT. While no change is expected from Poloz and co., the BOC could change its forward guidance. The central bank is currently neutral on the fate of the next rate move in Canada. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Loonie Battered Ahead of BoC Scott Smith 7 years Canada reported a drop of 0.3% in the volume of retail sales in September, contrary to a rise of 0.1% expected. Also core retail sales fell short of expectations with a slide of the same scale, contrary to a rise of 0.2% predicted. For USD/CAD, it was a one-two punch: US inflation came out slightly better than expected and the greenback is strengthening across the board. USD/CAD is shooting higher, edging close o resistance at 1.1280, which was the previous 2014 high. On the way, it broke above resistance at 1.1240. The round number of 1.13 is getting close. Further… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
