BREAKING: CAD little changed after mixed retail sales data

Canadian retail sales data for March was released today at 1:30 pm BST. Report was expected to show the second month of declines in a row with a drop in sales being expected to be deeper than in February. Actual report came in mixed - headline retail sales dropped more or less in-line with expectations and deeper than in February. However, core retail sales (ex-autos) saw a smaller drop than expected and than in February.

Canada, retail sales for March:

• Headline: -1.4% MoM vs -1.5% MoM expected (-0.2% MoM previously)
• Ex-autos: -0.3% MoM vs -0.8% MoM expected (-0.7% MoM previously)

USDCAD moved slightly lower after Canadian retail sales data. Pair is inching towards the upward trendline that has limited downside moves recently. Source: xStation5