US Feb Retail Sales (MoM) up to 1.1% vs 0.2% (Jan)
Mar 13, 2013
Forex: USD/CAD edges higher towards 1.0276/77 ahead US retail sales
The USD/CAD has been rising steadfastly ahead of the Retail Sales data in the US. Having traded in a relatively narrow consolidation earlier today, the pair has now broken higher in recent minutes to settle at 1.0276/77 at the time of writing – at this point the cross is operating +0.15% above its opening.
The main characteristic of the global capital markets is one of consolidation, says the BBH team. While, EUR/USD is trading at 1.3015 the two weakest currencies against the dollar, sterling and the yen, are trading firmer today.