Will the Canadian dollar, which fell due to weak retail sales, rebound, or should we wait and see?

Will the Canadian dollar, which fell due to weak retail sales, rebound, or should we wait and see?

23.10.2023

Last weekend, the Canadian dollar fluctuated against the yen after Canada’s September retail sales data, released on the 20th, showed that core month-over-month growth had slowed from 1.0% to 0.1%. The CAD/JPY pair rose from 109.097 to 109.667 before pulling back toward the end of the U.S. trading session.It ultimately closed at 109.256. Since the CAD/JPY pair formed a bullish candle with an upper shadow that fell below the 20-day moving average on the daily chart following last weekend’s pullback, traders should watch for signs that the Canadian dollar’s momentum may be losing steam.

European currencies fell against the pound after Germany’s September Producer Price Index (PPI) was released, showing a deterioration from a year-on-year decline of 12.6% to 14.7%. The euro-pound pair rose to 0.8739 before retreating, falling to 0.8706—below the day’s opening price.Although the EUR/GBP formed a bearish candle with a long upper shadow following last weekend’s decline, the upward trend on the weekly chart remains intact, so we should closely monitor the direction of the market.

Today, the Singapore Consumer Price Index is scheduled for 2:00 PM, the Turkey Consumer Confidence Index for 4:00 PM, Taiwan’s Industrial Production and Unemployment Rate for 5:00 PM, the Mexico Economic Activity Index and the Philippines Money Supply for 9:00 PM, the U.S. Chicago Fed National Activity Index for 9:30 PM, and the Israel Benchmark Interest Rate for 10:00 PM.23:00: Eurozone Consumer Confidence Index; 24:30: U.S. 6-month Treasury bill auction; 30:00: South Korea Producer Price Index. We will closely monitor whether the Canadian dollar, which fell due to weaker retail sales, will rebound.

Past Market Reports

1. 21.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

2. 20.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

3. 17.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

4. 16.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

5. 15.04.2026New

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

6. 14.04.2026

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

7. 13.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

8. 10.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

9. 09.04.2026

   Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

10. 08.04.2026

    Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran