Canadian data all came out above expectations: retail sales rose by 1.1%, core sales by 0.7%. CPI jumped to 2.3% y/y and Core CPI to 1.7%. The weaker Canadian dollar may have helped, and now it’s rising back up. Canada was expected to report an advance of 0.4% in retail sales in May after a drop of 0.1% in April. Core sales were expected to rise at the same scale of 0.4% after a minimal rise of 0.1% previously. CPI was expected to rise from 2% to 2.1% y/y or 0.3% m/m. Core CPI was expected to advance from 1.4% to 1.5%. USD/CAD was hovering above the lows, at 1.0820 before the publication. The pair is now trading just above support at 1.0780. Everything went in the same direction. Update: 1.0780 is lost ads the pair drops below the level. The new low at the time of writing is 1.0775. Month over month, prices rose by 0.5% and so did core CPI. The annual level of core CPI is now close to the “holy grail” of 2% in inflation. It will be hard for the BOC to remain dovish on such figures. The Canadian dollar enjoyed the turmoil in Iraq as well as the FOMC statement, which left nothing for the USD bulls. The weakness of the US dollar was wide, but some currencies enjoyed it more than others. The C$ had limited success in riding this wave. Support awaits at 1.0780, followed by 1.0660. Resistance stands at 1.0850 followed by 1.0920. For more, see the Canadian dollar prediction. 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 3 reasons for upside pressure on NZD/USD Yohay Elam 8 years Canadian data all came out above expectations: retail sales rose by 1.1%, core sales by 0.7%. CPI jumped to 2.3% y/y and Core CPI to 1.7%. The weaker Canadian dollar may have helped, and now it's rising back up. Canada was expected to report an advance of 0.4% in retail sales in May after a drop of 0.1% in April. Core sales were expected to rise at the same scale of 0.4% after a minimal rise of 0.1% previously. CPI was expected to rise from 2% to 2.1% y/y or 0.3% m/m. Core CPI was expected to advance from 1.4%… Regulated 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.
