Canada’s Retail Sales Rise Above Expectations

Retail Sales in Canada, for October, unexpectedly surged, however, the USD/CAD pair is trading in negative territory, holding slightly 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.

The latest reading came in much better than the market expectation for a decrease of 0.3%. Retail Sales, excluding vehicle sales, increased by 1.7% in the same period, compared to analysts’ estimate of 0.8%.

USD/CAD edged slightly lower in an initial reaction to this data and was last seen losing 0.15% on the day at 1.3606.