- Retail sales in Canada rose less than expected in July.
- USD/CAD spiked toward the 1.33 handle on disappointing reading.
According to the monthly data published by Statistics Canada, retail sales in Canada rose 0.4% on a monthly basis in July to $51.5 billion following June’s contraction of 0.1% (revised from 0%) and fell short of the market expectation of 0.6%. Excluding cars, sales declined 0.1% in the same period.
With the initial reaction, the CAD weakened against its major rivals and the USD/CAD spiked higher toward the 1.33 mark.
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