Canada Retail Sales rise 0.6% in September vs. 0% expected

• Retail Sales in Canada rose unexpectedly in September.
• USD/CAD trades in negative territory near 1.3650 after the data.

Retail Sales in Canada increased by 0.6% on a monthly basis to C$66.46 billion, Statistics Canada reported on Friday.

This reading followed the 0.1% contraction recorded in August and came in better than the market expectation for a no change. In the same period, Retail Sales ex Autos rose by 0.2%.

“Core retail sales—which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers—were down 0.3% in September,” the press release further read. “In volume terms, retail sales increased 0.3% in September. Retail sales were up 0.6% in the third quarter, while in volume terms, retail sales declined 0.5%.”

Market reaction

USD/CAD edged lower with the immediate reaction and was last seen losing 0.26% on a daily basis at 1.3658.