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November 20, 2020

Canada’s Retail Sales Data Gives Chance to Grab 25+ PIP Movement in CAD Parity, Nov 20, 2020

Canada Retail Sales & Core Retail Sales

Canada will publish sales data around 1330 GMT/1900 IST. It’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity. This time market has predicted lower than previous data reading of Sales data.

Let’s see how CAD has reacted during the previous data release:

Oct 21:

Sept 18:

Technical View:

USD/CAD: The Canadian dollar rises ahead of Retail sales and Core retail sales data. The pair made intraday high at 1.3088 and low at 1.3047 mark. A sustained close above 1.3105 require for the upside rally. Key resistances are seen at 1.3136, 1.3170, 1.3212 and 1.3250 marks respectively. On the other side, current downside movement will check key supports around 1.3040, 1.3018, 1.2984 and 1.2962 marks respectively.

Take a look and do trade wisely!
Good Luck

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