Uncertainty persists
Markets dipped slightly to start the week, as uncertainty persists surrounding Brexit and investors wait for the outcome of the Federal Reserve meeting tomorrow.
The USD trend will be dictated today by May Retail Sales released this morning. After an impressive 1.3% increase in April, economists expect a more muted gain of 0.3%, given slowing automobile sales in May. It is worth noting that the American consumer is responsible for close to two thirds of U.S. economic activity and still remains the driving force behind the country’s economy. In Canada, we’ll get a better idea about the status of the real estate market, a topic that will no doubt be discussed in great detail when the Teranet-National Bank Home Price Index is published this morning.
Since the loonie could be volatile tomorrow when the Fed meeting wraps up, it may be worth talking to your trader about desired levels.
