USD/CAD: Canadian Retail Sales

The US Dollar appreciated against the Canadian Dollar, following the Canadian Retails Sales data release on Friday at 12:30 GMT. The USD/CAD exchange currency rate gained 34 pips or 0.26% right after the release. The Greenback continued trading at the 1.3100 level against the Canadian Dollar.

Statistics Canada released the Canadian Retail Sales, which came out worse-than-expected of negative 0.3% compared with the forecast of 0.3%.

According to the official release: "Retail sales declined for the first time in four months, edging down 0.1% to $51.5 billion in May. Excluding sales at motor vehicle and parts dealers and gasoline stations, retail sales decreased 1.0%. Retail sales declined for the first time in four months, edging down 0.1% to $51.5 billion in May. Excluding sales at motor vehicle and parts dealers and gasoline stations, retail sales decreased 1.0%. After removing the effects of price changes, retail sales in volume terms decreased 0.5%."