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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
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
Wall Street
More View more
Real Time News
  • Make smart trading decisions with your free guide to trade the news. Download your free guide here. #DailyFXGuides
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • Gold snapped a two-week losing streak but keeps price within the broader August downtrend. These are the levels that matter on the $XAUUSD weekly chart. Get your market update from @MBForex here:
  • $GBPUSD continues to move higher, despite Friday’s weakness, as vaccination hopes continue to fuel positive sentiment despite ongoing lockdown fears and downbeat UK data. Get your market update from @nickcawley1 here:
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here:
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here:
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here:
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here:
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2021? Find out from @JohnKicklighter here:
Forex: Canada Retail Sales Rose More Than Expected in October; CAD Strengthened

Forex: Canada Retail Sales Rose More Than Expected in October; CAD Strengthened

Renee Mu, Currency Analyst

THE TAKEAWAY: [Canada retail sales unexpectedly rose 0.7 percent] > [Stronger spending in automobiles] > [CAD strengthened,USD/CAD declined]

Retail sales in Canada increased faster than expected in October for the fourth time, with a jump in new car sales. Ottawa-based Statistics Canada reported today that retail sales climbed 0.7 percent in October from a month ago, following a revised gain of 0.2 percent from a 0.1 percent increase initially reported. October’s figure beats the consensus forecast of economists surveyed by Bloomberg News, which had called for a 0.2 percent growth.

Automobile and parts sales rose the most among all subsectors, up 1.6 percent to C$8.96 billion, while gasoline station receipts gained 1.6 percent to C$5.10 billion. Sales excluding autos grew 0.5 percent in October which also exceeded economist forecast for a 0.2 percent gain.

Coupled with above-forecast increases in employment and wholesales earlier this month, the boost in retail sales adds to signs that Canada’s economy may be recovering after a weak third quarter.

USD/CAD 1-minute Chart: December 20, 2012

Forex_Canada_Retail_Sales_Rose_More_Than_Expected_in_October_CAD_Strengthened__body_1220.png, Forex: Canada Retail Sales Rose More Than Expected in October; CAD Strengthened

The Canadian dollar surged against the U.S. dollar following the release of the stronger-than-expected retail sales figures. As can be seen from the one-minute chart above, the USD/CAD pair fell to C$0.9882 from C$0.9887. At the time this report was written, the loonie remained higher against the greenback, with the USD/CAD pair trading at C$0.9875.

--- Written by Renee Mu, DailyFX Research

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