Canada retail sales (June) will be released at the bottom of the hour

Small gains expected

The Canada retail sales will be the only release at 8:30 AM ET/1230 GMT this morning. The estimate is for a 0.2% gain vs 0.6% last month. The Ex auto is expected to rise 0.1% vs -0.1% last month.

The USDCAD is trading at 1.2577 currently. On a weak number the 1.2600 level may have some option expire interest. A move above and the 100 hour MA is at 1.2617. The high on Friday stalled ahead of that level. On the downside, the 1.2552 is the 61.8% of the move up from the July low.