Canada Retail Sales decline by 0.1% in August

• Retail Sales in Canada fell more than expected in August.
• USD/CAD continues to trade in negative territory at around 1.3700.

Retail Sales in Canada declined by 0.1% on a monthly basis in August to C$66.08 billion, Statistics Canada reported on Friday. This reading followed the 0.4% growth recorded in July and came in better than the market expectation for a decline of 0.3%.

Retail Sales ex Autos increased by 0.1% in the same period, after rising by 1.1% in July.

Market reaction

The USD/CAD pair showed no immediate reaction to these figures and was lasts seen trading modestly lower on the day at 1.3700.