The US Dollar appreciated against the Canadian Dollar, following the Canadian Retail Sales data release on Friday at 12:30 GMT. The USD/CAD exchange currency rate gained 11 pips or 0.08% right after the release. The Greenback continued trading at the 1.3196 level against the Canadian Dollar.
Statistics Canada released the Canadian Core Retail Sales data, which came out worse-than-expected of 0.1% compared with forecast of 0.6%.
According to official release: “Retail sales rose for the third consecutive month, edging up 0.1% to $51.5 billion in April. Excluding sales at motor vehicle and parts dealers and gasoline stations, retail sales were down 0.1%. Sales were up in 7 of 11 subsectors, representing 74% of retail trade. Higher sales at gasoline stations and food and beverage stores were the main contributors to the gain. After removing the effects of price changes, retail sales in volume terms decreased 0.2%.”
