Canadian retail sales ticked up in November – RBC


Commenting on the Canadian Retail Sales data that was published on Friday, "the tick up in Canadian retail sales in November breaks a string of generally softer economic data for the month after disappointing manufacturing and wholesale reports earlier this week,"noted Nathan Janzen, Senior Economist at RBC.

Key quotes

"It would take more reports like this one to really alter what have been lackluster trends in the retail sector, though. Excluding price impacts, volume sales were still unchanged from a year ago in November (despite a 0.7% month-over-month increase)."

"Still, domestic growth concerns are once again front and center at the Bank of Canada, despite what looks like a less-worrying external backdrop with the US and China agreeing to hit pause in their ongoing trade war."

"Overall economic activity (i.e. GDP) looks like it increased little if at all in Q4. Some of that softness, but not all, is due to transitory factors. The central bank will rightly be more focused on economic data releases until it becomes clear whether recent faltering is a sign of underlying fundamental deterioration, or yet another statistical blip in what is often volatile Canadian economic data."

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD rebounds after dismal US PMIs

EUR/USD is trading closer to 1.0850, rising in response to weak US PMIs, with the services one pointing to contraction. Earlier, German Manufacturing PMI beat estimates. 

EUR/USD News

GBP/USD advances to 1.2950 after US data

GBP/USD is trading around 1.2950, taking advantage of US weakness stemming from a downfall in Markit's Services PMI in the US. In Britain, the Manufacturing PMI exceeded estimates. 

GBP/USD News

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Consolidation process underway

The Crypto board continues to be immersed in an emotional leg-breaking, consistently punishing the emotional state of the traders with its continuous changes of direction.

Read more

XAU/USD unstoppable, breaks to fresh 2020 highs, approaching $1650/oz

XAU/USD is trading in an uptrend above its main daily simple moving averages (SMAs) while breaking above a bull channel. Gold is printing fresh 2020 highs hitting $1646.64 per ounce on an intraday basis.  

Gold News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info

Forex MAJORS

Cryptocurrencies

Signatures