Canadian Dollar Stays Weak after Retail Sales
Action Insight Mid-Day Report 8-20-21

Canadian Dollar Stays Weak after Retail Sales

Canadian Dollar is trading as the worst performing one today and slightly weaker than expected retail sales data provide little help. Persistent weakness in oil price is weighing down the loonie, together with overall negative sentiment. Overnight development is unchanged that Dollar, Yen and Swiss Franc are the strongest while commodity currencies are the weakest. Sterling is under performing both Euro and Franc too.

In Europe, at the time of writing, FTSE is down -0.11%. DAX is down -0.35%. CAC is down -0.20%. Germany 10-year yield is down -0.0032 at -0.490. Earlier in Asia, Nikkei dropped -0.98%. Hong Kong HSI dropped -1.84%. China Shanghai SSE dropped -1.10%. Singapore Strait Times rose 0.51%. Japan 10-year JGB yield dropped -0.0048 to 0.012.

Full Report Here

Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol

PBOC Left Policy Rate Unchanged. Further Easing Inevitable as Economy Prone to Weaken in Second Half
RBNZ Left OCR Unchanged Amidst Latest Lockdown. Hawkishness Maintained
CFTC Commitments of Traders - Bets on Higher Crude Oil Price Shrank as Widespread Coronavirus could Again Hurt Chinese Demand
Central Bank Views | China Watch | Oil N' Gold | Special Topics

USD/CAD Mid-Day Outlook

Daily Pivots: (S1) 1.2709; (P) 1.2770; (R1) 1.2890; More...

Intraday bias in USD/CAD remains on the upside at this point. Current rise from 1.2005 should target for 1.3022 fibonacci level next. On the downside, below 1.2813 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

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EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

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Fundamental Analysis | Technical Analysis
In-depth Reports
PBOC Left Policy Rate Unchanged. Further Easing Inevitable as Economy Prone to Weaken in Second Half
RBNZ Left OCR Unchanged Amidst Latest Lockdown. Hawkishness Maintained
A Tack On Tighten – Review Of The RBNZ Monetary Policy Statement
Volatile Gold Price will Remain be Driven by Speculations of Fed's Tapering
Economic Calendar
GMT Ccy Events Actual Forecast Previous Revised
23:01 GBP GfK Consumer Confidence Aug -8 -6 -7
23:30 JPY National CPI Core Y/Y Jul -0.20% -0.40% 0.20%
06:00 GBP Retail Sales M/M Jul -2.50% 0.40% 0.50% 0.20%
06:00 GBP Retail Sales Y/Y Jul 2.40% 6.40% 9.70% 9.20%
06:00 GBP Retail Sales ex-Fuel M/M Jul -2.40% 0.30% 0.00%
06:00 GBP Retail Sales ex-Fuel Y/Y Jul 1.80% 7.40% 6.80%
06:00 EUR Germany PPI M/M Jul 1.90% 0.80% 1.30%
06:00 EUR Germany PPI Y/Y Jul 10.40% 8.40% 8.50%
06:00 GBP Public Sector Net Borrowing (GBP) Jul 9.6B 23.2B 22.0B 20.7B
12:30 CAD New Housing Price Index M/M Jul 0.40% 1.30% 0.60%
12:30 CAD Retail Sales M/M Jun 4.20% 5.00% -2.10%
12:30 CAD Retail Sales ex Autos M/M Jun 4.70% 4.90% -2.00%