Canadian retail sales came in much weaker than expected, falling 0.6% in July versus expectations for a 0.6% rise.
The greenback jumped from the 1.0670 area to 1.0715 on the disappointing news.
Owing to the slow pace of disseminating Canadian economic statistics (July data at the end of Sept? They using dog-sleds to gather data?) the numbers are old news. Once stops are done, we might ignore the data.
The 1.0740 area is solid resistance on rebounds.
