Canada Retail Sales rise 0.1% in June vs. 0% expected

Market news

23 August 2023

Canada Retail Sales rise 0.1% in June vs. 0% expected

Retail Sales in Canada rose marginally in June.
USD/CAD continues to trade in positive territory, closes in on 1.3600.

Retail Sales in Canada rose 0.1% on a monthly basis in June, Statistics Canada reported on Wednesday. This reading followed the 0.1% increase recorded in May (revised from 0.2%) and came in slightly better than the market expectation of 0%.

Retail Sales ex Autos remained declined 0.8% in the same period, compared to analysts' estimate for an increase of 0.3%.

Market reaction

USD/CAD continued to push higher after this report and was last seen rising 0.27% on a daily basis at 1.3587.

USD/CAD approaches 1.3600 as Canada’s general consumer spending weakens

Canada Retail Sales ex Autos (MoM) came in at -0.8% below forecasts (0.3%) in June

Market Focus

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