USD/CAD: Canadian and US Employment Data Sets

The Statistics Canada  released CAD CPI data that came out lower-than-expected of negative 0.4% compared with forecasted negative 0.1%. Moreover, CAD Retail Sales data came out together with the CAD CPI data release with the data lower-than-expected of negative 0.4% compared with the forecasted 0.1%.

"Wage growth for permanent employees firmed to 2.2% y/y which added to the upbeat tone of the report, although this will do little to change convictions at the Bank of Canada where the broader slowdown is a more important factor." noted TD.