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Forex Flash: EUR/USD looks to US retail sales – Danske Bank

The single currency remains flatlined in the vicinity of the key resistance at 1.3000 on Wednesday, ahead of the US retail sales for the month of February. Prior surveys place a monthly expansion of 0.5%, while same result is expected from the Core reading.

Flemming Nielsen, Senior Analyst at Danske Bank, remarked that sales could have two opposite effects on the euro.

“Strong US numbers are overall expected to support risk appetite, which would normally tend to push EUR/USD higher. However, with the long streak of improving US data, the market has increasingly turned its focus on the timing of a Fed ‘exit’. Hence, strong US data might fuel further expectations that the Fed will start to look at this and thus a high probability that strong US data would lead to a stronger dollar going forward”, Nielsen concluded.

Forex Flash: US data may provoke a CAD reaction – TD Securities

The USD/CAD remains limited by the 1.0250/1.0315 range and broader signals from the FX market have been weak as well. “Today we finally get the first North American data release that could provoke a CAD reaction:  US retail sales”, wrote analysts Shaun Osborne and Greg Moore, pointing to a “slightly above consensus expectations for consumer activity in February and since positive US data is good for the USD now, that suggests USD/CAD would be supported by the release”.
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Euro flatlined at 1.3000

The sensations surrounding the shared currency remain far from auspicious, as the prevailing bearishness has been accentuated following mixed data from the bloc’s industrial sector which is still submerged into...
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