Canada: Retail Sales rise by 2.1% in August vs. 2% expected

Retail Sales in Canada rose more than expected in August.
USD/CAD stays in the negative territory below 1.2350 after the data.

Eren Sengezer FXStreet

Retail Sales in Canada rose by 2.1% on a monthly basis in August, the data published by Statistics Canada showed on Friday. This reading followed July's contraction of 0.6% and came in slightly better than the market expectation for an increase of 2%.

Excluding automobiles, Retail Sales in Canada increased by 2.8% in the same period as expected.

Market reaction

The USD/CAD pair showed no immediate reaction to this report and was last seen trading at 1.2330, where it was down 0.28% 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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