The main slice of economic data in North American trading is the Canadian retail sales report at the bottom of the hour.
The consensus is for a 0.5% rise in July following a 1.1% rise the month before. On the ex-autos side, the consensus is for a flat reading after a 1.5% rise in June.
The previous report was super-strong and included upward revisions to the May data so there might be a bit of give-back. Sales have exceeded estimates for three months in a row.
On ex-autos, estimates range from -0.8% to +0.4%.
USD/CAD is near 1.1000 and flirting with the 50% retracement of yesterday’s gains ahead of the data.
USDCAD 10 minute chart Sept 23
