USD/CAD is at the highs of the day at 0.9945, just one pip shy of Friday’s peak.
Today’s gains have come in the past hour as the yen and dollar gather momentum. If Friday’s high breaks then the next level to watch is 0.9970 followed by parity.
The driver at the bottom of the hour will be November retail sales, which are expected to be flat after a 0.7% rise in October. Ex-autos are seen up 0.1%.