Partner Center
Find a Broker
Much like the other comdolls, the Loonie danced to the tune of risk sentiment last week. Which events can influence the currency this time?
Here’s a short list:
CPI (Dec 18, 1:30 pm GMT)
- As expected, prices inched 0.3% higher in October after a 0.4% decrease in September
- Annualized CPI maintained its 1.9% growth
- BOC’s core inflation came in at 1.9% as expected, the lowest since April
- The lack of inflationary pressure for the BOC to ease boosted CAD higher
- Analysts see headline CPI at -0.1% in November
- Annualized CPI could come in at 2.2%
Retail sales (Dec 20, 1:30 pm GMT)
- Headline retail sales slipped by 0.1% in September, the first decline in three months
- Core retail trading inched 0.2% higher after a 0.1% slip in August
- Positive U.S. data and risk sentiment limited CAD’s losses during the time of the release
- Market players expect a 0.5% gain in October
- Core retail sales is estimated at 0.3% for the month
Market risk sentiment
- The U.K.’s election results and U.S.-China phase one deal development can highlight trade-related updates this week. Look out for what major economies are planning with last week’s updates
- PMIs from the European region could also affect overall risk appetite
Technical snapshot
- CAD has had a strong 30 days against JPY but also lost a lot more against GBP and NZD
- USD/CAD is “bearish” in the short-term and “bullish but weakening” using the longer-term WEEKLY SMAs
- CAD/JPY is “bullish” in the short-term and “bearish but weakening with the longer-term WEEKLY SMAs
Missed last week’s price action? Read CAD’s price recap for December 9 – 13!