USD/CAD didn’t move as expected despite the release of the Canadian Retail Sales and the US Durable Goods Orders data. The Canadian Retail Sales contracted by 0.2% in March on a month-on-month basis. US Durable Goods Orders surprisingly rose by 0.8% in April. Canadian Retail Sales were down by 0.2% while investors forecasted them to have remained stagnant. In February, Retail Sales also contracted by 0.1%. Sales data excluding automobiles surprisingly declined by 0.
Considering positive overnight futures, the S&P 500 is expected to open on a positive note. The US Dollar Index , which tracks the Greenback’s value against six major currencies, falls to 104.77. The United States Census Bureau has reported that Durable Goods Orders surprisingly rose by 0.7% while investors expected them to decline by 0.8%.
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