Canada Retail Sales Data

• Core retail sales index (m/m) (June), fact 0.9%, forecast -0.1%.
• Retail sales (m/m) (June), fact 0.0%, forecast -0.1%.

July retail sales in Canada rose unexpectedly, showing renewed growth on a monthly basis, which supported the Canadian dollar. But due to the fact that the dynamics of this indicator remains restrained negative, and the previous ones were reviewed downward, the support for the  Canadian dollar was limited.

Fig. 1. Canadian Retail Sales Index Chart

The USD/CAD pair slowed growth on data for Canada, but continued to be limited by upward dynamics and support levels: 1.3300-10. This will act as a limiting factor in strengthening the Canadian dollar on restrained positive data.

Fig. 2. USD/CAD chart. Current price – 1.3320

Read also: “Correction of the financial quarter”

Hanzenko Anton

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