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Canada: Retail Sales rose 0.7% in August

Adel 21 October, 2022 4:35 pm Breaking News, Forex Market, Market Update

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.

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