BREAKING: CAD gains after retail sales data

2:31 PM 24 November 2023

Canadian retail sales data for September was released today at 1:30 pm GMT. Report was expected to show no change in headline retail sales compared to the previous month, as well as a drop in core sales (excluding autos).

Actual report turned out to be a positive surprise with both headline and core sales rising. Headline retail sales saw a 0.6% MoM jump while sales excluding autos were 0.2% MoM higher.

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Canada, retail sales for September

Headline: +0.6% MoM vs 0.0% MoM expected (-0.1% MoM previously)
Ex-autos:+0.2% MoM vs -0.3% MoM expected (+0.1% MoM previously)

Canadian dollar gained following the release with USDCAD reaching a fresh daily lows below 1.3670 mark. Source: xStation5

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