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USD/CAD eyes 1.3300 post-data

FXStreet (Edinburgh) - A bout of weakness is now hitting the Canadian dollar on Wednesday, helping USD/CAD to regain the vicinity of 1.3300 the figure.

USD/CAD extends the rebound

After bottoming out in the 1.3230 area, the pair has sparked a correction higher boosted by the disappointing figures from the Canadian retail sector, with headline Retail Sales coming in flat on a monthly basis during August vs. a forecasted 0.4% gain. Excluding the Auto sector, sales rose 0.5% MoM, matching estimates.

Back to the US, the speech by Atlanta Fed D.Lockhart will be the limelight later followed by the weekly report on crude oil stockpiles by the EIA.

USD/CAD levels to consider

The pair is now up 0.11% at 1.3287 with the next hurdle at 1.3297 (high Sep.23) followed by 1.3310 (high Sep.11). On the other hand, a breach of 1.3216 (low Sep.22) would expose 1.3160 (low Sep.16) would and then 1.3074 (low Sep.17).

US stock futures indicate a positive opening

US index futures reversed course ahead of the opening bell to indicate a positive day ahead on the Wall Street.
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Canada retail sales prints in line with estimates

The official data released in Canada showed July retail sales at +0.5%, as expected.
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