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GoCs Rally And USDCAD Clears 1.32 On Soft Retail Sales Report

CANADA
  • The miss for May retail sales and a flat June advance sees GoC extend a rally that had built just ahead of the release, with yields through 2-10Y tenors falling an extra 1.5-2.5bps for 5-6bps on the day.
  • USDCAD pushes 15 pips higher to poke above 1.32 with a high of 1.3205, having struggled to breach it in recent sessions.

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