Canada Retail Sales much better than expected – rise by 1.0% vs _0.2% expectation. The Ex Autos also comes in stronger at +1.0% vs +0.4%. This should benefit the CAD$ – lead to a lower USDCAD. The pair just moved below S5 at the 1.0749 level. If the price can hold below these levels the bias will remain to the downside. Upside risk is to 1.0799.
