According to the latest report published by Statistics Canada, the retail sales volume in October turned out to be below estimates, which means the figures failed to come up to analyst expectations. The major reason behind those retail sales decline has to do with food stores, which saw much lower consumption over the reporting period while the sales of autos and clothes increased at the same time.
More specifically, October’s sales increased only by 0.1% against the expectations of 0.4%. At the same time, Market Leader reminds you that September’s figures were revised in a positive way – the decline narrowed from 0,5% to 0,4%. It should be noted that the retail sales decline in October was equal to 0.3%.
FOREX
Masterforex-V Academy reports that the Canadian Dollar keeps on forming the mid-term reaction against U.S. Dollar after failing to break through pivot 1,4000. This means the Canadian currency is still losing its value against its American counterpart.
Support – the bottom of the ascending MF sloping channel + MF pivot 1,3038
Resistance – pivot 1,4000
