Three Currencies to Watch This Week
We prepared an outlook of major events of this week. Check it and be ready!
Will the Canadian dollar strengthen?
Information is not investment advice
Canada will publish retail sales and core retail sales at 15:30 MT time on December 20. The headline indicator shows the change in the total value of sales at the retail level. The core one is generally the same, but without automobile sales due to their volatility. These indicators are important as they show the level of consumer spending in the country. The previously released data was positive for CAD bulls. While core retail sales advanced by 0.2%, the headline indicator fell, but the decline was smaller than the analysts’ expectations (-0.1% vs. -0.3% expected).
• If the releases are greater than analysts’ expectations, the CAD will rise;
• If the releases are weaker than analysts’ expectations, the CAD will fall.
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