The Canadian retail sales fell 1.8% in December after growing 0.7% in November. The result, despite being negative, improves market expectations, since the consensus expected a decrease of 2.1%. This is the first fall in three months and the most pronounced in seven months.
Excluding vehicles, retail sales fell 2.5%, worsening the estimated 2% decline. In November, the indicator grew by 1.1%. This is the largest decline on record since April 2021.
USD/CAD reaction
The USD/CAD it has hardly reacted to the data. At the European open on Friday, the pair fell to 1.2673, a two-day low, but just before the retail sales release it regained ground and rose to a daily high of 1.2709. At time of writing, the US dollar is trading against the Canadian above 1.2707, gaining 0.02% on the day.
Source: Fx Street
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
