Canada: Retail Sales rise by 1.3% in November vs. 0.1% expected

Retail Sales in Canada increased by 1.3% in November.
USD/CAD holds steady near daily tops, above 1.2700 mark.

Haresh Menghani FXStreet

Retail sales rose at their fastest pace since September, up 1.3% to $55.2 billion in November, data published by Statistics Canada showed on Friday. The reading was well above consensus estimates pointing to a tiny rise of 0.1%.

"Core retail sales—which exclude gasoline stations and motor vehicle and parts dealers—rose 2.6%," the press release further read.

Market reaction

The Canadian dollar remained depressed amid a weaker tone surrounding crude oil prices. Meanwhile, the USD/CAD pair was seen trading near the top end of its daily range, just above the 1.2700.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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