USD/CAD in tight range as Canada moves closer to deflation

The USD/CAD pair was little changed today as traders reacted to the weak US retail sales and Canadian inflation data. Traders are also waiting for the Federal Reserve interest rate decision. US retail sales disappoint The US retail sales disappointed in August even as the country continued to reopen. According to the Census Bureau, retail sales jumped by 0.6% to $537.5 billion during the month. That was a lower rate than the previous month’s increase of 0.9%. Analysts polled by Reuters were expecting the sales to advance by 1.0%. On an annualised basis, the sales rose by 2.57%. The core