USDCAD Rebounds to 1.3752 on Weak Canadian Sales

The USDCAD currency pair rebounded in late-week trading, climbing toward 1.3752 amid weaker-than-expected Canadian retail sales data and sustained strength in the US dollar, driven by robust American economic indicators and geopolitical tensions in the Middle East.

The pair opened near recent highs at 1.3752 on Friday but initially stalled below the previous day's peak of 1.37476, prompting a dip that tested support at the 100-hour moving average around 1.37086. Prices briefly fell to a session low of 1.3700 before recovering, as buying interest emerged to defend the moving average level, which has held firm over multiple tests in recent sessions. By late trading, USDCAD had pushed back above 1.3724 and hovered around 1.3735 to 1.37476, maintaining a rangebound pattern with buyers capping upside momentum and sellers unable to sustain downside pressure.

Statistics Canada reported that January retail sales rose 1.1 percent month-over-month, rebounding from a 0.4 percent decline in December but falling short of the 1.5 percent forecast. Excluding autos, sales increased 0.8 percent, missing expectations of 1.2 percent after a revision to flat from an initial 0.1 percent gain....