Cautious mood ahead of top-tier US data, central bankers’ speech at Jackson Hole symposium prod Loonie traders.US Durable Goods Orders, Fed Chair Powell’s defense of hawkish policy eyed for clear directions.bears struggle to keep the reins after returning to the table the previous day, following the Loonie pair’s U-turn from a three-month high. That said, the quote remains indecisive around 1.3520 amid early Thursday morning in Europe.
US Dollar Index remains sidelined around 103.40 after reversing from an 11-week high the previous day whereas thecrude oil, Canada’s main export item, prints mild losses around $78.40 while fading the bounce off a one-month low marked on Wednesday. On the same line, the US statistics came in mostly weak but the Canadian data weren’t impressive, which in turn spoils the market’s
At home, Canada’s Retail Sales for June reprinted 0.1% MoM revised growth versus the market consensus of 0.0% while the Retail Sales ex Autos slumped to -0.8% from -0.3% prior figures and 0.3% market forecasts.