FXstreet.com (Barcelona) - Canadian Dollar has jumped on better than expected retail sales, and the USD/CAD decline from 1.1125 high on August 17 has extended to 2-week low at 1.0745 moments after sales data was released.
Canadian retail sales have risen 1.0% in July buoyed by higher gasoline prices and, instead of the 0.4% advance expected by the markets. This is the third consecutive increment on retail sales, and follows 1.1% increase in June. Year on year sales are 4.4% lower.
The Dollar trades, at the moment right above 1.0750 support, and once below here, next support levels lie at 1.0675 (Aug 6 low) and 1o month low at 1.0630. On the upside, resistance levels lie at 1.0825, and above there, 1.0850/60, then 1.0940.