Statistics on Retail Sales Supported the Canadian Currency

Yesterday, the US dollar had been trading rather calmly against the euro, the pound and the yen. The Canadian dollar showed the best results. According to the Statistics Canada, in April the retail sales index increased by 1.5%, which is much higher than the forecasted value at 0.7%. Today, the attention of financial market participants will be directed to the inflation data in Canada.

The US Department of Labor reported that the number of initial applications for unemployment benefits increased by 1.3% to 241.000 for the week ending on June 17. Market expectations were at the level of 240.000.

During the Asian trading session, prices for "black gold" have recovered slightly. At the moment, the growth of quotes for futures for WTI crude oil has exceeded 0.2%. Investors expect statistics on the number of drilling rigs in the US from Baker Hughes.

Market Indicators

Yesterday, the US stock indices showed a slight decrease: #SPY (-0.05%), #DIA (-0.07%), #QQQ (-0.03%).

The 10-year US government bonds yield has not changed. At the moment, the indicator is at the level of 2.15-2.16%.

The dollar index (#DX) finished the trading session in the positive zone (+0.04%).

Today we recommend you to pay attention to the following economic reports:

  • – reports on business activity in Germany and the Eurozone – 10:30 (GMT+3:00) and 11:00 (GMT+3:00), respectively;
  • – basic consumer price index in Canada – 15:30 (GMT+3:00);
  • – statistics on business activity in the US – 16:45 (GMT+3:00);
  • – new homes sales in the US – 17:00 (GMT+3:00).

by JustForex, 2017.06.23

We advise you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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