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.

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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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