According to the data published by Statistics Canada on Friday, retail sales in Canada remained unchanged on a monthly basis in June following May's 0.2% decline and came in better than the market expectation for a fall of 0.1%. Further details of the publication showed that excluding autos, retail sales rose by an impressive 0.9%.
With the initial market reaction, the USD/CAD pair eased slightly from its highs and was last trading at 1.3330, adding 0.23% on the day.
A more than 3% drop in crude oil prices seem to be weighing on the commodity-related Loonie despite the upbeat data.
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