The retail sales in November rose 1.3% in Canada, significantly exceeding expectations that were for an increase of 0.1%. Excluding automobiles, the advance in sales was 2.1%, also higher than the market consensus of a rise of 0.3%.
This was the seventh consecutive monthly rise. That streak may have been cut in December as the preliminary estimate points to a 2.6% drop.
USD / CAD was unchanged after the report. USD / CAD is rising and trades above 1.2700, driven by a rally in the dollar. The loonie is showing a remarkable performance within the group of currencies linked to commodities.
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