Adam has a worthy preview of the second round of US growth numbers;
US GDP probably wasn’t as strong as believed
And he’s also done one on the Canadian retail sales
Retail sales preview: Canadian dollar at the mercy of economic data
Here’s a quick blast of what’s expected
As Adam points out in the preview, the personal spending number get the most attention, otherwise the market is geared up for a lower revision. Given that USD/JPY is starting to struggle at the top here it’s going to take a really good number to give us a sustained move higher and a marginal improvement may not see any gains last.
As for the mob north of the border, they had a mixed report under the main headline number and will be looking at that to be a one off heading into year end. Keep an eye on the 55 dma 1.1204 as it held us up after the inflation report last week and we’re still trading the downtrend channel.
USD/CAD H4 chart 25 11 2014
