Good Afternoon
The US Dollar is trading stronger today after the release of the
Retail Sales numbers which were better than expected. This has pushed the
Dollar higher against all currencies and has been the main cause for movement
in the market.
The US Retail Sales report came in higher than expected reporting
an increase of .1% against an expected drop of 0.3% that economists were
looking for. This is a good news
story for the US Economy as
it shows that consumers are ready to spend again after a few subdued months.
USD.CAD has moved back lower to the
level that it started the day at after initially strengthening from the stronger than expected Retail Sales numbers, USD.CAD continues
to trade in a narrow range and any movement outside of this has been
corrected very quickly.
Yonah
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