USD/CAD: Retail Sales Firm but USD Buyers on Dips

USD/CAD dipped in the wake of a strong retail sales report from Canada but found buyers toward 1.1260 and bounced into the 1.1275 area before stalling. Dealers are keeping one eye on the big USD as EUR/USD drifts lower on the day. Medium-term CAD bulls are heartened by the failure of the greenback to overcome the 1.1285 Fibo retracement this morning (38.2% of 1.1420/1.1205). USD offers are scatted up to the 1.1305 area; stops are poised above the 200 day moving average at 1.1306.