The most awaited economic release is out for the day for the Canadian dollar as 1.1% vs 1.0% expected and the sales excluding autos rose 1.7% to surpass the analysts’ estimate of 0.9% by a wide margin.. The Retail Sales released by the Statistics Canada is a monthly data that shows all goods sold by retailers based on a sampling of retail stores of different types and sizes. The better than expected retail sales for the month of March is release as 1.1% which made the USDCAD pair drop around 35 Pips extending its bearish break till 1.33600 region. Meanwhile, EURCAD has broken the daily ascending trendline below with a 33 pip move post retail sales which is expected to pull the pair to the next support region at 1.49000 and further bearish pressure may target to 1.48300.
Canadian Retails Sales released as 1.1% vs 1.0% expected
