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USDCAD: Healthy retail sales data expected – TDS

FXStreet(Delhi) – Prashant Newnaha, Rates Strategist at TD Securities, suggests that we are broadly in line with the market in looking for a healthy 0.9% m/m gain in July retail sales (market: +0.7%) with the ex-autos measure forecast to increase by 0.3% (market: 0.5%).

Key Quotes

“Sales should be supported both by the automotive component and from gasoline stations. Rising consumer prices—note the price of gas increased by almost 2% in the month—will correspond to a more subdued increase in the volumes metric.”

ECB: President Draghi’s speech eyed – Rabobank

Research team at Rabobank, suggest that the markets will be looking closely for any clues in the Draghi’s speech that the central bank may increase its asset purchasing programme in the coming months to reduce the risk of prolonged disinflation with the headline inflation reported at just 0.1% YoY in August.
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EUR/GBP off highs near 0.7250 on German PMI

The cross in the EUR/GBP eases-off fresh session highs, although remains well bid, on the back of downbeat German flash manufacturing PMI report.
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