Josh Nye, Senior Economist at Royal Bank of Canada, offered his take on Friday’s release of Canadian monthly retail sales figures for the month of September. Key Quotes: “September’s retail sales were weighed down by lower gasoline prices and a pullback in auto sales. The latter have generally been soft this year–while housing has clearly gotten a boost from lower interest rates, auto sales have not. That strength in housing was evident in rising sales at building material stores, which hit a record high on a volumes basis in October (the only category that can make such a claim).” “Despite a soft end to the quarter, retail sales volumes rose an annualized 1.9% in Q3, the best pace in a year. We expect overall consumer spending (part of next week’s Q3 GDP report) rose at a similar pace. The BoC is keeping its eye on the household sector, with strength there essential to offset headwinds to investment and exports. It looks like both consumer spending and housing made solid contributions to growth last quarter.” 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 US Dollar Index clings to gains near 98.00 ahead of data FX Street 3 years Josh Nye, Senior Economist at Royal Bank of Canada, offered his take on Friday's release of Canadian monthly retail sales figures for the month of September. Key Quotes: "September's retail sales were weighed down by lower gasoline prices and a pullback in auto sales. The latter have generally been soft this year--while housing has clearly gotten a boost from lower interest rates, auto sales have not. That strength in housing was evident in rising sales at building material stores, which hit a record high on a volumes basis in October (the only category that can make such a claim)." … 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.
