Canada posted quite good retail sales data (+ 0.8% m / m with a forecast of + 0.4% m / m). But in the battle of two dollars, the American turned out to be stronger than the Canadian.
The UK decided not to lag behind and also showed growth in retail sales (+ 1.1% m / m with a forecast of -0.3% m / m). However, this did not help the pound much, and together with the dollar, it set off to storm the support of 1.30.
Another reason for selling the euro has been provided by Germany. The PMI index in the manufacturing sector in Germany was worse than expected and well below 50 (44.5, with a forecast of 45.0), which is a negative signal for both the largest economy in the Eurozone and for the European single currency.
Meanwhile, in the United States the number of active rigs has dropped sharply again. According to Baker Hughes , the number of oil installations for the week decreased by 8 to 825 pieces. Such news has supported oil . However, it is still at the local top. Recall that while oil (WTI brand) is below 64.50, we will look for opportunities to sell the asset on the intraday basis.
Today will be almost a “day off”. US, UK and German markets will be closed. This means a low level of liquidity and a “thin” market. Accordingly, the probability of sharp and unpredictable price fluctuations sharply increases. Therefore, it is worth being extremely cautious in order not to run into another flash crash.