Data released on Friday showed retail sales rose 0.6% in July in Canada, below expectations. According to National Bank of Canada’s analyst, Kyle Dahms, retail sales have confirmed their recovery after falling sharply during the months on March and April. Key Quotes: “In real terms, Canada’s retail sales edged up 0.4%. The early estimate for August nominal sales is +1.1%.” “The monthly increase was essentially driven by higher sales of motor vehicles/parts and gasoline stations. Core retail sales (which excludes those two same sectors) were down 1.2% in July following the massive rebounds in June and May.” “Retail sales have confirmed their recovery from the March and April contractions and now sit at a level 1.1% higher than the pre-pandemic level in February.” “Despite the slight disappointment in July, retail sales are on track for a massive increase in the third quarter with the August preliminary reading also showing an advance. This rebound was expected, given substantial pent-up demand and the considerable assistance provided by the Federal government to support household incomes. The real question remains whether household spending can be sustained given the tapering out of support programs in the coming months.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CZK could benefit from a correction higher of the US dollar – MUFG FX Street 2 years Data released on Friday showed retail sales rose 0.6% in July in Canada, below expectations. According to National Bank of Canada’s analyst, Kyle Dahms, retail sales have confirmed their recovery after falling sharply during the months on March and April. Key Quotes: “In real terms, Canada’s retail sales edged up 0.4%. The early estimate for August nominal sales is +1.1%.” “The monthly increase was essentially driven by higher sales of motor vehicles/parts and gasoline stations. Core retail sales (which excludes those two same sectors) were down 1.2% in July following the massive rebounds in June and May.” “Retail sales have confirmed… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.