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Canadian Dollar shrugs off Retail Sales miss to rebound on Friday
The post Canadian Dollar shrugs off Retail Sales miss to rebound on Friday appeared on BitcoinEthereumNews.com. Canadian Dollar recovers lost ground but remains down for the week. Canada Retail Sales decline further, limiting CAD recovery. Broad market risk appetite recovers after US inflation expectations ease. The Canadian Dollar (CAD) recovered ground on Friday, sparked by a shift in investor risk appetite. US Durable Goods Orders snubbed an expected decline, and Consumer 5-year Inflation Expectations in May eased slightly. Canada saw a fresh downturn in Retail Sales in March after median forecasts expected a slight bounce. Despite further signs of economic weakness in Canada, broader market sentiment gained ground and forced the US Dollar (USD) lower after the Michigan Consumer Sentiment Index climbed higher than expected in May. Daily digest market movers: Market sentiment rebounds, Canadian Dollar shrugs off Canadian data miss Canadian Retail Sales slid -0.2% MoM in March, missing the forecasted recovery to 0.0% from the previous month’s -0.1%.Canadian Retail Sales excluding Automobiles tumbled to a nine-month low of -0.6% MoM, entirely missing the forecast of 0.1%, though the previous month’s figure was revised upward slightly to -0.2% from -0.3%. US Durable Goods Orders in April rose 0.7%, shrugging off the -0.8% forecast, though the previous month’s print was steeply revised lower to 0.8% from 2.6%. The University of Michigan’s Consumer Sentiment Index printed firmly higher at 69.1 compared to the previous month’s 67.4. Median market forecasts had expected a slight uptick to 67.5. The UoM 5-year Consumer Inflation Expectations in May eased to 3.0% versus the expected hold at 3.1%. Market sentiment is recovering on Friday after a midweek spike in risk aversion sparked by a harsh rebalancing of investor rate cut expectations. The CME’s FedWatch Tool shows that rate markets are pricing in nearly-even odds of a rate cut from the Federal Reserve (Fed) in September, down sharply from 70% at the beginning…
The post Canadian Dollar shrugs off Retail Sales miss to rebound on Friday appeared on BitcoinEthereumNews.com.
Canadian Dollar recovers lost ground but remains down for the week. Canada Retail Sales decline further, limiting CAD recovery. Broad market risk appetite recovers after US inflation expectations ease. The Canadian Dollar (CAD) recovered ground on Friday, sparked by a shift in investor risk appetite. US Durable Goods Orders snubbed an expected decline, and Consumer 5-year Inflation Expectations in May eased slightly. Canada saw a fresh downturn in Retail Sales in March after median forecasts expected a slight bounce. Despite further signs of economic weakness in Canada, broader market sentiment gained ground and forced the US Dollar (USD) lower after the Michigan Consumer Sentiment Index climbed higher than expected in May. Daily digest market movers: Market sentiment rebounds, Canadian Dollar shrugs off Canadian data miss Canadian Retail Sales slid -0.2% MoM in March, missing the forecasted recovery to 0.0% from the previous month’s -0.1%.Canadian Retail Sales excluding Automobiles tumbled to a nine-month low of -0.6% MoM, entirely missing the forecast of 0.1%, though the previous month’s figure was revised upward slightly to -0.2% from -0.3%. US Durable Goods Orders in April rose 0.7%, shrugging off the -0.8% forecast, though the previous month’s print was steeply revised lower to 0.8% from 2.6%. The University of Michigan’s Consumer Sentiment Index printed firmly higher at 69.1 compared to the previous month’s 67.4. Median market forecasts had expected a slight uptick to 67.5. The UoM 5-year Consumer Inflation Expectations in May eased to 3.0% versus the expected hold at 3.1%. Market sentiment is recovering on Friday after a midweek spike in risk aversion sparked by a harsh rebalancing of investor rate cut expectations. The CME’s FedWatch Tool shows that rate markets are pricing in nearly-even odds of a rate cut from the Federal Reserve (Fed) in September, down sharply from 70% at the beginning…
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