The Canadian dollar may begin to drop
Last week, the USD/CAD pair rose by just over 1.5%. The drop in oil prices is putting pressure on the Canadian dollar. Today, Canadian retail sales data will be released. Forecasts expect the indicator to fall month-over-month from 0.7% to -0.5%. If the data meet expectations or prove to be better than expected, the USD/CAD pair could begin to rise.
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