Open Demo Account
Home / Market Update / Forex Market / CAD Rises on Higher than Expected Retail Sales

CAD Rises on Higher than Expected Retail Sales

M. Ali 20 November, 2020 8:19 pm Forex Market, Market Update

The Canadian Dollar (CAD) rose against its US counterpart (USD) on Friday, supported by a more than expected increase.

The USD/CAD is trading lower for the day by around 0.1% at 1.3061.

The Canadian buck has now extended its weekly gain against the greenback to around 0.6%.

Earlier today, data showed that Canadian retail sales increased by 1.1% to $53.9 billion in September, according to Statistics Canada.

This is the fifth consecutive monthly increase in Canadian retail sales.

The surge in retail sales also exceeded market expectations of a 0.2% rise.

Data further showed that retail sales rose across 9 of the 11 market sectors.

Tags

Check Also

Fitch’s Tariff Warning: How U.S. and China Trade Tensions Could Reshape the Global Economy

On April 3, 2025, prominent Fitch ratings agency issued a stark warning about the U.S. …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends