The USD/CAD has decreased sharply today and has resumed the yesterday’s bearish candle, has decreased somehow surprisingly because the USDX remains higher, the index has recovered after the yesterday’s drop. The rate was driven lower by the technical factors, the Loonie has increased even if didn’t have any high impact data from Canada, the rate has dropped even if the United States Core Retail Sales rose by 0.5% in September, more compared to the 0.4% estimate, has reached the highest level of the last 3-months, while the Retail Sales has increased by 0.6% in September, matching expectations, these two indicators have increased again after the 0.2% drop from August.
Moreover the PPI rose by 0.3%, more than the 0.2% estimate, has come also better versus the 0.0% growth from August, the Core PPI has increased as well, by 0.2%, exceeding the 0.1% estimate, unfortunately for the USD, the Prelim UoM Consumer Sentiment and the Business Inventories have come worse today and have pushed the rate down. The United States Department of the Tresury could release the Federal Budget Balance, which is estimated to increase from -107.01 to 30.0 points.
The USD/CAD has decreased sharply today and has resumed the yesterday’s bearish candle, has decreased somehow surprisingly because the USDX remains higher, the index has recovered after the yesterday’s drop. The rate was driven lower by the technical factors, the Loonie has increased even if didn’t have any high impact data from Canada, the rate has dropped even if the United States Core Retail Sales rose by 0.5% in September, more compared to the 0.4% estimate, has reached the highest level of the last 3-months, while the Retail Sales has increased by 0.6% in September, matching expectations, these two indicators have increased again after the 0.2% drop from August.
Moreover the PPI rose by 0.3%, more than the 0.2% estimate, has come also better versus the 0.0% growth from August, the Core PPI has increased as well, by 0.2%, exceeding the 0.1% estimate, unfortunately for the USD, the Prelim UoM Consumer Sentiment and the Business Inventories have come worse today and have pushed the rate down. The United States Department of the Tresury could release the Federal Budget Balance, which is estimated to increase from -107.01 to 30.0 points.