Canada: Retail Sales decline by 0.2% in February vs. -0.6% expected

Retail Sales in Canada fell at a stronger pace than expected in February.
USD/CAD stays in positive territory above 1.3500 after the data.

Eren Sengezer FXStreet

The data published by Statistics Canada showed on Friday that Retail Sales declined by 0.2% on a monthly basis following January's 1.4% increase. This reading came in better than the market expectation for a decrease of 0.6%.

Further details of the publication revealed that Retail Sales ex-Autos fell by 0.7% in the same period.

Market reaction

This report doesn't seem to be having an impact on the Canadian Dollar's valuation. As of writing, USD/CAD was up 0.4% on the day at 1.3530.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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