Forex: USD/CAD below 1.030 barrier

on Jul 23, 2013
Listen Tuesday July 23th:_ The Canadian dollar firmed against the greenback ahead of the New York opening today, with the pair falling to a more than one-month low at 1.0296, a drop of some 51 pips after having risen to an intraday high at 1.0347 in the early European session.

Canadian retail sales data for May m/m came out at 13:30 BST, showing a 1.9 percent increase, well ahead of expectations for a 0.3 percent rise and April’s 0.2.
And retails sales excluding autos came out as up 1.2 percent in May m/m, emphatically reversing April’s fall of 0.3 percent.
The loonie yesterday rose also to an almost one-month high against the greenback at 1.0319, buoyed by the price of commodity export gold which was up 1.3 percent at $1,335.82 per ounce, its highest level since June 20.

South of the border yesterday, the Federal Reserve Bank of Chicago released its National Activity Index (CFNAI) for June, showing an increase to -0.13, better than May’s -0.29 but below the forecasts for a rise to zero.
US Existing Home Sales Change for June m/m reported a 1.2 percent fall to 5.08 million from May’s 5.14 million and missing expectations for 5.26 million.

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