Dukascopy Bank Team
Dukascopy Bank SA
EUR/USD: US Retail Sales
The European Common Currency traded sideways against the US Dollar, following the US Retail Sales data release on Thursday at 12:30 GMT. The EUR/USD exchange currency rate lost 9 pips or 0.08% right after the release. The Euro continued trading at the 1.1245 level against the US Dollar.
Census Bureau released the US Core Retail Sales data that came out better-than-expected of 1.2% compared with forecast 0.7%.
According to experts, the US retail sales showed the fastest growth since late 2017. In March, sales for automobiles, petrol, furniture and clothing surged. This advance might signal that consumers tend to spend more due to the healthy job market.
USD/CAD: Canadian Retail Sales
The US Dollar depreciated against the Canadian Dollar, following the Canadian Retail Sales data release on Thursday at 12:30 GMT. The USD/CAD exchange currency rate lost 19 pips or 0.14% right after the release. The US Dollar continued trading at the 1.3390 level against the Canadian Dollar.
Statistics Canada released the Canadian Retail Sales data that came out better-than-expected of 0.6% compared with forecast 0.2%. Note, that the US Retail Sales data was released at the same time.
The increase in the Canadian retail sales was the strongest since May 2018. Car dealers observed the rise in sales. Also, merchandise stores and supermarkets reported large profits.
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This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
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