Canada: Retail Sales in January rose 0.4% vs. 0.3% expected

Retail Sales in Canada rose more than expected in January.
USD/CAD continues to trade below 1.4300 after data.

Eren Sengezer FXStreet

Retail Sales in Canada rose 0.4% in January to $52 billion, the data published by Statistics Canada showed on Friday. This reading came in slightly better than the market expectation for an increase 0.3%.

"Sales were up in 4 of the 11 subsectors, representing 48% of retail trade," the publication read. "After removing the effects of price changes, retail sales in volume terms decreased 0.3%."

USD/CAD reaction

The USD/CAD pair largely ignored this data and was last seen trading at 1.4270, down 1.65% on a daily basis.

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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