Rose on Monday, the US dollar against the Canadian dollar to continue weakening of the Canadian dollar after the shock of retail sales data from Canada, which was issued on Friday showed a big drop to (-2.3%) after it was expected (-0.7%) and the previous reading positive when 0.6%.
Two other factors were the cause of the weakness of the Canadian dollar, as the US dollar index, which measures the performance of the dollar against six currencies-again under pending the outcome of the alternative Greek plan for austerity, and that the EC is still waiting to be submitted formally today to confirm the compatibility of the deadline given by Athens partners to work the current loan program for another four months.
He was also a decline in futures contracts for crude oil prices impact in giving greater negative impact on the performance of the Canadian dollar against other currencies as they relate together with a positive correlation coefficient.
Technically, the pair remained at large in the area of ​​cross between 1.2350 and 1.2795 without specific emphasis on the short-term direction.
Finally, there is no doubt that the US dollar movements today after the announcement of the details of the Greek plan will affect movements in the Canadian dollar.