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Retails trump inflation in Canada, and keeps the pressure on USDCAD

Discussion in 'Technical Analysis' started by ForexLive, Mar 18, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Strong retail bounce back sees USDCAD take out yesterday's low USDCAD remains heavy and the retail sales numbers comes as a gift for bears as Canadians show some resilience. It looks to be more a case of a snap back from the big drop in Dec so overall it looks like it all evens out. The important part is that there was a snap back. another duff report could have spelt trouble in the consumer sector and we would be seeing the opposite move in USDCAD.

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