News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • France 40 IG Client Sentiment: Our data shows traders are now net-long France 40 for the first time since Dec 22, 2020 when France 40 traded near 5,477.70. A contrarian view of crowd sentiment points to France 40 weakness. https://www.dailyfx.com/sentiment https://t.co/58P7y6uEE0
  • Coming up in 20'. Please join me if you're free by clicking the link below https://t.co/629fFCZnuC
  • 💶 ZEW Economic Sentiment Index (JAN) Actual: 58.3 Previous: 54.4 https://www.dailyfx.com/economic-calendar#2021-01-19
  • 🇩🇪 ZEW Current Conditions (JAN) Actual: -66.4 Expected: -68.5 Previous: -66.5 https://www.dailyfx.com/economic-calendar#2021-01-19
  • 🇩🇪 ZEW Economic Sentiment Index (JAN) Actual: 61.8 Expected: 60 Previous: 55.0 https://www.dailyfx.com/economic-calendar#2021-01-19
  • Heads Up:🇩🇪 ZEW Current Conditions (JAN) due at 10:00 GMT (15min) Expected: -68.5 Previous: -66.5 https://www.dailyfx.com/economic-calendar#2021-01-19
  • Heads Up:🇩🇪 ZEW Economic Sentiment Index (JAN) due at 10:00 GMT (15min) Expected: 60 Previous: 55.0 https://www.dailyfx.com/economic-calendar#2021-01-19
  • Heads Up:💶 ZEW Economic Sentiment Index (JAN) due at 10:00 GMT (15min) Previous: 54.4 https://www.dailyfx.com/economic-calendar#2021-01-19
  • Join @MartinSEssex 's #webinar at 5:30 AM ET/10:30 AM GMT to learn more about trading #sentiment Register here: https://t.co/XUUPRdY06p https://t.co/cXbw7d9zlU
  • The London trading session accounts for around 35% of total average forex turnover*, the largest amount relative to its peers. The London forex session overlaps with the New York session. Learn about trading the London forex session here: https://t.co/dWaWQ0MK1V https://t.co/47i1c87veZ
Loonie Tumbles As Canadian February Retail Sales Unexpectedly Fall

Loonie Tumbles As Canadian February Retail Sales Unexpectedly Fall

Tzu-Wen Chen, Technical Strategist

THE TAKEAWAY: [Canada retail sales unexpectedly decline for first time in seven months] > [Decline led by auto] > [CAD weakens against USD]

Canadian retail sales unexpectedly declined in February for the first time in seven months on disappointing auto sales, reversing the rebound seen in January after sales stagnated in December. Ottawa-based Statistics Canada reported today that sales fell by 0.2 percent in February, while January’s figures were revised downwards to 0.2 percent from the 0.5 percent originally reported. The median forecast of economists surveyed by Bloomberg News had called for month-on-month growth of 0.1 percent, while sales excluding autos had been projected to rise by 0.6 percent.

The decline in retail sales was led by motor vehicles and parts dealers, which fell by 2.4 percent. Food and beverage stores registered the second straight month of decline, edging down 0.2 percent. Meanwhile, building material and garden equipment sales recorded the largest gain, rising 2.2 percent, while sales at gasoline stations rose by 1.7 percent, reflecting higher gasoline prices.

USDCAD 1-minute Chart: April 24, 2012

Loonie_Tumbles_As_Canadian_February_Retail_Sales_Unexpectedly_Fall_body_Picture_2.png, Loonie Tumbles As Canadian February Retail Sales Unexpectedly Fall

Chart created using Strategy Trader – Prepared by Tzu-Wen Chen

The Canadian dollar tumbled against the U.S. dollar on the disappointing retail sales figures, falling 19 pips against the greenback in the first few minutes after data release. The loonie continued to lose ground, and at the time of this report, the USDCAD pair was trading at C$0.9918.

--- Written by Tzu-Wen Chen DailyFX Research

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES