- Retail Sales in Canada increase at a softer pace than expected in May.
- USD/CAD trades in positive territory above 1.3200 after the data.
Retail Sales in Canada rose 0.2% on a monthly basis in May, Statistics Canada reported on Friday. This reading followed the 1% increase recorded in April (revised from 1.1%) and came in below the market expectation of 0.5%.
Retail Sales ex Autos remained unchanged in the same period, compared to analysts’ estimate for an increase of 0.3%.
Market reaction
USD/CAD edged higher with the initial reaction to this report and was last seen rising 0.25% on the day at 1.3205.
Source: https://www.fxstreet.com/news/canada-retail-sales-rise-02-in-may-vs-05-expected-202307211235