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USD/CAD weakens below 1.23 mark, Canadian retail sales and CPI in focus

USD/CAD weakens below 1.23 mark, Canadian retail sales and CPI in focus Skip to main content Follow us on: | FXStreet Blog |    Newsletter MENU Show navigation FXStreet FXStreet - The forex market Home RATES & CHARTS TOOLS Live Chart Trading Positions Forecast Poll Rates Table Technical Confluences ASSETS EUR/USD GBP/USD USD/JPY AUD/USD NZD/USD USD/CAD GBP/JPY EUR/JPY Dollar Index Gold Oil SP500 News LATEST FOREX NEWS Latest News Institutional Research LATEST NEWS BY ASSETS EUR/USD GBP/USD USD/JPY AUD/USD NZD/USD USD/CAD USD/CHF EUR/GBP Dollar Index Commodities Bonds Equities Analysis EDITORIAL SELECTION EUR/USD GBP/USD USD/JPY AUD/USD USD/CAD Dollar Index Oil Gold Stocks Commodities Bonds Correlations Support and Resistance Elliott Wave Cycles Sentiment Economic Calendar TOOLS Economic Calendar Interest Rates Market Hours TOP EVENTS Nonfarm Payrolls Fed BoC ECB BoE SNB BoJ RBA RBNZ Live Video SECTIONS Shows Schedule Become Premium MOST POPULAR COACHES Ed Ponsi Giuseppe Basile Sarid Harper Alex Ong Sam Seiden Steve Ruffley Rob Colville Nenad Kerkez Gonçalo Moreira Navin Prithyani David Pegler Walter Peters Education Brokers SECTIONS Forex Brokers Broker News Broker Spreads Home RATES & CHARTS TOOLS Live Chart Trading Positions Forecast Poll Rates Table Technical Confluences ASSETS EUR/USD GBP/USD USD/JPY AUD/USD NZD/USD USD/CAD GBP/JPY EUR/JPY Dollar Index Gold Oil SP500 News LATEST FOREX NEWS Latest News Institutional Research LATEST NEWS BY ASSETS EUR/USD GBP/USD USD/JPY AUD/USD NZD/USD USD/CAD USD/CHF EUR/GBP Dollar Index Commodities Bonds Equities Analysis EDITORIAL SELECTION EUR/USD GBP/USD USD/JPY AUD/USD USD/CAD Dollar Index Oil Gold Stocks Commodities Bonds Correlations Support and Resistance Elliott Wave Cycles Sentiment Economic Calendar TOOLS Economic Calendar Interest Rates Market Hours TOP EVENTS Nonfarm Payrolls Fed BoC ECB BoE SNB BoJ RBA RBNZ Live Video SECTIONS Shows Schedule Become Premium MOST POPULAR COACHES Ed Ponsi Giuseppe Basile Sarid Harper Alex Ong Sam Seiden Steve Ruffley Rob Colville Nenad Kerkez Gonçalo Moreira Navin Prithyani David Pegler Walter Peters Education Brokers SECTIONS Forex Brokers Broker News Broker Spreads ; NEWS | 8 minutes ago USD/CAD weakens below 1.23 mark, Canadian retail sales and CPI in focus By Haresh Menghani The greenback lost some more ground on Friday, with the USD/CAD pair retreating further from near two-week highs touched on Wednesday.  Lack of any strong follow through US Dollar buying interest, despite the latest hawkish Fed announcement, has failed to assist the pair to build on its post-FOMC recovery move, failing just ahead of the 1.2400 handle.     •  Fed: December hike likely due to low unemployment rate – Danske Bank Meanwhile, renewed geopolitical tensions stemming out the Korean peninsula kept the greenback on back-foot through early European session on Friday and has now dragged the pair back below the 1.2300 round figure mark. Currently trading around 1.2280 level, the pair was also being weighed down by the prevalent bullish sentiment around crude oil prices, which tends to boost demand for the commodity-linked currency - Loonie. Today's key focus would be on the Canadian macro releases - monthly retail sales data and inflation figures, due later during the NA session. Even a slightest miss would now be looked as encouraging the BoC to pause before next rate hike move and eventually assist the pair to continue with its bounce.    •  CAD to take cues from hard data - Westpac Technical levels to watch A follow through selling pressure has the potential to continue dragging the pair towards its next support near the 1.2240-35 region, which if broken would point to a retest of the 1.2200 handle. On the upside, any up-move beyond the 1.2300 handle now seems to confront fresh supply near 1.2325-30 area, above which the pair is likely to dart towards conquering the 1.2400 handle. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. RELATED TOPICS USDCAD DollarIndex LATEST NEWS Filter by topic in News Results USD/CAD weakens below 1.23 mark, Canadian retail sales and CPI in focus FXStreet | 8 minutes ago France: Activity indicators remain upbeat in September - ING FXStreet | 10 minutes ago European Monetary Union Markit PMI Composite above expectations (55.5) in September: Actual (56.7) FXStreet | 15 minutes ago   European Monetary Union Markit Manufacturing PMI above forecasts (57.1) in September: Actual (58.2) FXStreet | 15 minutes ago European Monetary Union Markit Services PMI came in at 55.6, above expectations (54.7) in September FXStreet | 15 minutes ago Fed: QT set to begin in October but no balance sheet level target yet – Danske Bank FXStreet | 18 minutes ago   AUD: It’s not over yet - ANZ FXStreet | 25 minutes ago Fed: December hike likely due to low unemployment rate – Danske Bank FXStreet | 29 minutes ago ECB: Re-anchoring risk – Rabobank FXStreet | 32 minutes ago   Fed still expects one more hike this year and three next year – Danske Bank FXStreet | 35 minutes ago Germany Markit Services PMI above expectations (53.8) in September: Actual (55.6) FXStreet | 45 minutes ago Germany Markit Manufacturing PMI came in at 60.6, above forecasts (59) in September FXStreet | 45 minutes ago Netherlands, The Gross Domestic Product n.s.a (YoY) remains unchanged at 3.3% in 2Q FXStreet | 45 minutes ago   Germany Markit PMI Composite above expectations (55.8) in September: Actual (57.8) FXStreet | 45 minutes ago Netherlands, The Gross Domestic Product s.a (QoQ) unchanged at 1.5% in 2Q FXStreet | 45 minutes ago EUR futures: bullish stance remains intact FXStreet | 45 minutes ago UK’s Grayling: Not in a position where a court outside the UK can decide on life in the UK post-Brexit FXStreet | 46 minutes ago   FOMC: Gauging normality for investors – Wells Fargo FXStreet | 47 minutes ago Gold recovers from 4-week lows amid renewed N. Korea tensions FXStreet | 52 minutes ago JPY: BoJ MPM and FOMC results – Deutsche Bank FXStreet | 52 minutes ago Load More content ... ©2017 "FXStreet" All Rights Reserved FXStreet Blog Site Map Terms and conditions Contact us Advertise with us Languages Edition Spanish Italian Indonesian Portuguese Japanese Traditional Chinese Simplified Chinese Russian French Arabic Deutsch Hungarian Turkish Vietnamese Catalan Korean Disclaimer Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. 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