USD/CAD: Canadian Retail Sales Improves,

USD/CAD: Canadian Retail Sales Improves,

For the 24 hours to 23:00 GMT, the USD declined 0.12% against the CAD to close at 0.9877, amid positive retail sales data in Canada and following a rise in crude oil prices.

Yesterday, Canadian retail sales increased 0.7% (MoM) to CAD39.45 billion ($39.93 billion), following a revised 0.2% increase in September.

In the Asian session, at GMT0400, the pair is trading at 0.9898, with the USD trading 0.21% higher from yesterday’s close.

The pair is expected to find support at 0.9879, and a fall through could take it to the next support level of 0.9859. The pair is expected to find its first resistance at 0.9908, and a rise through could take it to the next resistance level of 0.9919.

Investors await the release of gross domestic product and consumer price index data in Canada