The Canadian dollar weakened slightly against its U.S. counterpart on Friday, but ended a volatile week higher as investor sentiment improved and a preliminary estimate showed Canadian retail sales rebounding in June. CAD weakened 0.1% per greenback. For the week, the Canadian currency gained 0.3%, after three straight weekly declines. Canadian retail sales dropped 2.1% in May from April, Statistics Canada said, less than a 3.0% decline forecast by economists.
We will likely see bearish trend continuation in the following sessions. It's recommended to sell on the rallies.
We will likely see bearish trend continuation in the following sessions. It's recommended to sell on the rallies.
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