It was a good day for the Canadian dollar yesterday, as it regained some of the ground lost this week in the midst of their Federal Election. The Core Retail Sales Data, released yesterday, actually fell below expectations, but the Canadian dollar rose steadily throughout the day, which is more than likely an auto-correction in the market now that Canada’s political situation has been decided. We expect the Canadian Consumer Price Index (CPI) data to be published today at 1.30pm, which has been consistently strong over the last six months; if they can maintain their steady success here, we could see the Canadian dollar return to its pre-election form.
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