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The Canadian dollar edged lower against the US dollar after domestic data showed July retail sales rose 0.4%, below the 0.6% expected. Markets priced about a 30% chance of a Bank of Canada rate cut by year-end.
A weaker-than-expected retail reading trims the odds of a Canadian rate hold, which slightly supports USD/CAD upside and modestly affects the cost of Canadian-denominated feed and trade flows.
theglobeandmail.comFergal SmithSep 20, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
