Canada: Retail Sales rise by 1.4% in October vs -0.3% expected

• Retail Sales in Canada rose unexpectedly in October.
• USD/CAD trades in negative territory, holds above 1.3600.

Retail Sales in Canada rose by 1.4% on a monthly basis in October following September’s 0.6% decline, the data published by Statistics Canada revealed on Tuesday. This reading came in much better than the market expectation for a decrease of 0.3%.

Retail Sales ex Autos increased by 1.7% in the same period, compared to analysts’ estimate of 0.8%.

Market reaction

USD/CAD edged slightly lower with the initial reaction to this data and was last seen losing 0.15% on the day at 1.3622.