CANADIAN DOLLAR GIVES BACK RECENT GAINS, CANADA RETAIL SALES DISAPPOINT
- Canadian Dollar recedes across the board on Wednesday.
- Canada Retail Sales broadly miss the mark, hurting Loonie.
- US GDP, PCE inflation to dominate the latter half of the trading week.
The Canadian Dollar (CAD) is broadly softer on Wednesday, paring back recent gains and falling back against all of its major currency peers as the single worst-performing currency for the mid-week market session. Canadian Retail Sales flubbed forecasts, declining in February and kicking the legs out from beneath the CAD.
Canada is absent from the economic calendar for the remainder of the week, and investors will be pivoting to focus on key US data. US Gross Domestic Product (GDP) and US Personal Consumption Expenditure (PCE) Price Index inflation figures are slated for Thursday and Friday, respectively.
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