CDN slips, Wholesales Sales next
February 12, 2021SharePrint
The Canadian dollar has posted considerable losses in the Friday session. Currently, USD/CAD is trading at 1.2746, up 0.34% on the day.
US dollar flexes muscles
The US dollar is showing some strength on Friday, with gains against its G-10 counterparts. The US dollar index is up slightly, to 90.62. The index remains bound between the 90 and 91 levels. A move below 90 or above 91 could have a significant impact on the movement of the dollar.
It’s been a quiet week for the Canadian dollar, in large part due to the absence of any Canadian events this week. We’ll get a look at Wholesales Sales, a leading indicator of consumer spending. Analysts are bracing for a weak read of -1.6%, which would mark the first decline since April. This was at the start of the Covid-19 pandemic, and the indicator plunged a stunning 21.6% that month.