Retail Sales m/mThe upcoming release of the Canadian Retail Sales month-over-month (m/m) data on January 21 at 13:30 UTC is highly anticipated by forex traders and market participants. This crucial economic indicator will shed light on consumer spending trends in Canada, which play a significant role in the overall health of the Canadian economy.
Forecast and Previous DataThe forecast for this release indicates a decline of -0.7%, a notable drop compared to the previous reading of 0.0%. A negative forecast suggests a contraction in retail activity, potentially signaling weakening consumer confidence or economic challenges.
Forecast: -0.7%
Previous: 0.0%
This stark contrast underscores the importance of monitoring this release, as it could have significant implications for the Canadian dollar (CAD) and the broader forex market. Technical Analysis

Why Canadian Retail Sales Matter to TradersRetail Sales m/m is a key indicator of consumer spending, which constitutes a significant portion of Canada’s economic activity. As such, this report can influence the Bank of Canada’s monetary policy decisions and market sentiment regarding the Canadian economy.
Better-than-expected data: Could strengthen the Canadian dollar as it suggests resilience in consumer spending.
Worse-than-expected data: May weaken the Canadian dollar due to concerns about economic slowdown.
For forex traders, the Retail Sales m/m report can create sharp price movements, particularly in currency pairs like USD/CAD, EUR/CAD, and GBP/CAD.
How to Trade the News EffectivelyWith the potential for heightened volatility during and after the release, traders should have a clear plan to navigate the market effectively. Key strategies include:
Monitoring Price Action: Identify key support and resistance levels for CAD pairs ahead of the release.
Setting Alerts: Use stop-loss and take-profit orders to manage risk during volatile price swings.
Following Market Sentiment: Stay updated on how global markets react to the data, as it could amplify or dampen CAD movements.
Stay Ahead with PIANOFX LTDAt PIANOFX LTD, we empower traders to seize opportunities during high-impact news events like the Canadian Retail Sales release. Our services are designed to give you the edge in volatile market conditions:
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Prepare for January 21The Canadian Retail Sales m/m report at 13:30 UTC on January 21 is poised to be a significant market-moving event. With expectations of increased volatility, having a solid strategy and reliable guidance is essential.
Let PIANOFX LTD guide you through the markets with confidence. Trade smart, trade with PIANOFX.
Disclaimer: Trading forex involves significant risk, and it’s crucial to trade responsibly. Past performance is not indicative of future results.
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