Home / Breaking News / Canada: Retail Sales rose 0.7% in August

Canada: Retail Sales rose 0.7% in August

The data published by Statistics Canada revealed on Friday that Retail Sales grew by 0.7% on a monthly basis in August following June’s sharp contraction of 2.5%. This reading came in better than consensus estimates pointing to a modest rise of 0.4%.

The USD/CAD pair, meanwhile, moves little following the data and maintains its strong bid tone just below mid-1.3800s amid a strong pickup in the US dollar demand.

Check Also

The Euro’s Moment? Weak US Data and ECB Action Set the Stage

The euro strengthened against the US dollar, with the EUR/USD pair climbing above 1.14. This …