FXCM - For the past two months, we have been unable to trade the Canadian retail sales report due to conflicting economic indicators that threatened to disrupt the reaction to the consumption indicators. In December, a monthly GDP number posed a modest threat to market movement and fundamental focus. The January release was certainly a no go through as the Bank of Canada was announcing a 25 basis point rate cut on the same day and at the same time as the retail sales report was scheduled to print. And, between these two fundamental pulls, a rate decision will win almost every time.
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