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.

USD/JPY eyes August swing low, near 155.20 ahead of US NFP

USD/JPY retests the August monthly swing low during the Asian session on Friday as a more hawkish repricing of BoJ rate-hike bets and a suspected intervention continue to underpin the Japanese Yen. Meanwhile, the US Dollar is seen consolidating the previous day's heavy losses amid soft US bond yields, further weighing on the currency pair as traders keenly await the US NFP report.

AUD/USD consolidates above 0.7200; US NFP awaited

AUD/USD holds steady above 0.7200, near its highest level since mid-May, as bulls await the US NFP report for more cues on the Fed's policy path before placing fresh bets. Meanwhile, the recent decline in US bond yields keeps the US Dollar depressed near its lowest level in over a week and acts as a tailwind for the Aussie amid the RBA's hawkish tilt.

Gold looks offered near $4,400 following the US jobs report

Gold sets aside the recent bullish performance on Friday, coming closer to the $4,400 mark per troy ounce amid marked losses. The renewed weakness of the precious metal comes on the back of the advance of the US Dollar as traders assess the latest NFP report.

Crypto’s $638 million buyback boom may not be as bullish as it looks

Decentralized Finance (DeFi) protocols reportedly spent $638 million to buy back their native tokens in August, up 17% from a year earlier. On the surface, the buyback trend suggests the cryptocurrency industry is maturing fast, adopting one of Wall Street’s oldest tools to bolster valuations and distribute revenue. The headline becomes less impressive once the number is opened up.

Why hawkish Bank of Japan expectations aren't enough to sustain the Japanese Yen rally

The Japanese Yen (JPY) experienced a sudden burst higher after falling back below the 160.00 psychological mark against the US Dollar (USD) earlier this week amid a more hawkish repricing of Bank of Japan (BoJ) rate hike expectations.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.