Canadian retail sales for December released at 2:30 p.m. Reports were mixed and there was some movement in the USD/CAD currency pair. Report Highlights (MOM):
– Title: -1.8% vs. -2.1% Expected (0.7%)
– Excluding cars: -2.5% vs -2.0% expected (1.1%)
USDCAD is trading slightly higher and is testing the 200 SMA (red line) and the lower boundary of the triangle formation. If there is an upside break, resistance at 1.2730 could be tested. Source: Xstation 5
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