Canada: Retail Sales rise by 4.2% in June vs. 4.4% expected

  • Retail Sales in Canada rose less than expected in June. 
  • USD/CAD clings to daily gains around 1.2900 after the data.

Retail Sales in Canada rose by 4.2% on a monthly basis in June, the data published by Statistics Canada showed on Friday. This reading followed May’s contraction of 2.1% and came in slightly weaker than the market expectation for an increase of 4.4%.

Excluding automobiles, Retail Sales in Canada increased by 4.7% on a monthly basis.

Other data from Canada showed that the New Housing Price Index was up 11.9% in July, matching June’s print. 

Market reaction

The USD/CAD pair showed no immediate reaction to these data and was last seen rising 0.59% on a daily basis at 1.2901.

FX

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