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CAD gains amid better-than-expected retail sales from Canada

2:37 PM 20 November 2020

Canada’s national statistical agency has just released its retail sales report - one of key events in today's economic calendar. The data came in well above expectations as retail sales rose 1.0% MoM in September (vs exp. 0.2% MoM). Core retail sales topped estimates as well. CAD has caught a bid after the release, but still the reaction is rather muted. Oil markets and weakening USD may have bigger impact on Canadian dollar performance these days. Apart from that, the data is quite obsolete amid worsening Covid-19 situation. The exact retail sales figures were as follows: 

Retail sales in September: 1.1% MoM 

  • Expected: 0.2% MoM

  • Previous: 0.4% MoM

Core retail sales in September: 1.0% MoM 

  • Expected: 0.2% MoM

  • Previous: 0.5% MoM

Source: xStation5

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