- Retail Sales in Canada fell less than expected in January.
- USD/CAD continues to trade with modest gains below 1.2500.
Retail Sales in Canada declined by 1.1% in January to $54.5 billion, the data published by Statistics Canada revealed on Friday. This reading followed December’s decrease of 3.4% and came in better than analysts’ estimate for a fall of 3%.
“Core retail sales””which exclude gasoline stations and motor vehicle and parts dealers””also posted their second consecutive decline, falling 1.4% in January,” the publication read. “In terms of volume, retail sales fell 1.6% in January.”
Market reaction
The USD/CAD pair showed no immediate reaction to this report and was last seen gaining 0.05% on a daily basis at 1.2490.
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