12:34 PM · 22 July 2022

CAD strengthens slightly on upbeat Canadian retail sales data

Canadian retail sales data for May was released at 1:30 pm BST. Report turned out to be better than expected but it did not trigger any major moves on the market. Highlights of the report:

• Headline: 2.20% MoM vs 1.6% MoM expected (0.9% MoM previous)

• Ex-autos: 1.9% MoM vs 1.6% MoM expected (1.3% MoM previous)

USDCAD saw a relatively small reaction to today’s data inflation release. The most popular currency pair continued to trade around 1.2850 level. Source: xStation5

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