FOREX TradingCharts.com
HOMECHARTS & QUOTESFOREX NEWSFOREX QUOTESLEARN FOREXFOREX BROKER LISTBOOKMARKFEEDBACK

Forex News: Canadian Dollar Declines As Weak Retail Sales Data

Canadian Dollar Declines As Weak Retail Sales Data Lifts Rate Cut Hopes

07/19/2024 - 12:26:00 (RTTNews)

(RTTNews) - The Canadian dollar dropped against its major counterparts in the New York session on Friday, as the nation's retail sales fell sharply in May, strengthening expectations for a rate cut by the Bank of Canada next week.

Data from Statistics Canada showed that retail sales fell by 0.8 percent in May after rising by a revised 0.6 percent in the previous month. Economists had expected retail sales to decrease by 0.6 percent.

Core retail sales, excluding motor vehicle and parts dealers, declined by 1.3 percent after gaining by a revised 1.7 percent in April. Core retail sales were expected to drop by 0.5 percent.

The loonie touched 1.3747 against the greenback, its lowest level since July 2.

The loonie eased to 0.9194 against the aussie, 1.4967 against the euro and 114.51 against the yen, from an early 10-day high of 0.9173 and 2-day highs of 1.4919 and 115.17, respectively.

The currency is seen finding support around 1.39 against the greenback, 0.93 against the aussie, 1.50 against the euro and 110.00 against the yen.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2024 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


U.S. Dollar Rebounds After Jobs Report (07 hr(s), 03 min(s), 44 sec(s) ago)
(RTTNews) - The U.S. dollar recovered against its major counterparts in the New York session on Fr ...Full Story»
Yen Rises Against Majors (12 hr(s), 39 min(s), 44 sec(s) ago)
(RTTNews) - The Japanese yen strengthened against other major currencies in the European session o ...Full Story»
Swiss Franc Rises Against Majors (19 hr(s), 06 min(s), 44 sec(s) ago)
(RTTNews) - The Swiss franc strengthened against other major currencies in the Asian session on Fr ...Full Story»
U.S. Dollar Lower As Soft ADP Data Increases Odds Of Aggressive Rate Cut (08 hr(s), 24 min(s), 44 sec(s) ago)
(RTTNews) - The U.S. dollar fell against its most major counterparts in the New York session on Th ...Full Story»
Euro Rises Against Majors (12 hr(s), 30 min(s), 44 sec(s) ago)
(RTTNews) - The euro strengthened against other major currencies in the European session on Thursd ...Full Story»
Yen Rises After Japan's Real Wages Unexpectedly Rise (15 hr(s), 36 min(s), 44 sec(s) ago)
(RTTNews) - The Japanese yen strengthened against other major currencies in the Asian session on T ...Full Story»
Yen Rises Against Majors (17 hr(s), 33 min(s), 44 sec(s) ago)
(RTTNews) - The Japanese yen strengthened against other major currencies in the Asian session on T ...Full Story»
Dovish Fed Comments, Weak Job Openings Data Send U.S. Dollar Down (05 hr(s), 33 min(s), 43 sec(s) ago)
(RTTNews) - The U.S. dollar weakened against its major counterparts in the New York session on Wed ...Full Story»
Search

FOREX NEWS

U.S. Dollar Rebounds After Jobs Report

09/06/2024 - 12:44 PM (RTTNews)
(RTTNews) - The U.S. dollar recovered against its major counterparts in the New York session on Fr ...Full Story>>

Yen Rises Against Majors

09/06/2024 - 07:06 AM (RTTNews)
(RTTNews) - The Japanese yen strengthened against other major currencies in the European session o ...Full Story>>

Swiss Franc Rises Against Majors

09/06/2024 - 00:41 AM (RTTNews)
(RTTNews) - The Swiss franc strengthened against other major currencies in the Asian session on Fr ...Full Story>>

U.S. Dollar Lower As Soft ADP Data Increases Odds Of Aggressive Rate Cut

09/05/2024 - 11:23 AM (RTTNews)
(RTTNews) - The U.S. dollar fell against its most major counterparts in the New York session on Th ...Full Story>>

Euro Rises Against Majors

09/05/2024 - 07:16 AM (RTTNews)
(RTTNews) - The euro strengthened against other major currencies in the European session on Thursd ...Full Story>>
USDCAD
Economic CalendarForex GlossaryForeign Exchange RatesForex Currency TradingForex ChartsPrivacy Policy Translate AdvertiseContact Us

Do not sell my personal information

Copyright © 2024. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.