Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
Retail sales report may push CAD down
Information is not investment advice
The Canadian core retail sales will be announced on Tuesday at 15:30 MT time.
Instruments to trade: USD/CAD, CAD/JPY, CAD/CHF
This indicator reveals the change in the total value of sales at the retail level, excluding automobiles. Why without auto sales? They are volatile and can misrepresent the trend. The core retail sales report is a more relevant measure of the spending dynamic.
We must say that Canada as one of the world’s largest oil exporters has been already under pressure because of extremely low oil price these days. In addition, investors are now more cautious and risk-averse. As a result, safe-haven currencies are more favorable, leaving aside the Canadian dollar.
Anyway, after the release of the retail sales’ data we should be ready to catch the market momentum and react immediately. Pay attention to the CAD/JPY pair as it’s really sensitive to the market changes and you could gain from it in a short term.
If the indicator is greater than expected, it will push the Canadian dollar up, otherwise – down.
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Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
The US Labor Market And Real Estate Market Are In Focus This Week
Labor Market and Real Estate Market data was published yesterday. Markets are slowing down, so the economy is in recession. Today the traders should pay attention to the Retail sales in Canada.
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