USD/CAD: Canadian Retail Sales

The US Dollar depreciated against the Canadian Dollar, following the Canadian Retail Sales data release on Friday at 12:30 GMT. The USD/CAD exchange currency rate lost 25 pips or 0.19% right after the release. The Greenback continued trading at the 1.3320 level against the US Dollar.

Statistics Canada released the Canadian Core Retail Sales data, which came out better-than-expected of 0.9% compared with the forecast of negative 0.1%.

According to the release: "Sales in the retail trade sector were essentially unchanged in June. Stronger sales across most subsectors were offset by lower sales at motor vehicle and parts dealers and gasoline stations. Excluding sales in these two subsectors, monthly retail sales advanced 1.7%. Sales were down in 4 of 11 subsectors, representing 48% of retail trade. After removing the effects of price changes, retail sales in volume terms increased 0.4%. Retail sales for the second quarter increased 1.2%, while retail volumes edged up 0.1%."