Following the release of the Canadian core retail sales data, the Loonie showed a moderate post-reaction against the Greenback. USD/CAD jumped 40 base points, or 0.32%, reaching the intraday high of 1.2742.
Canada’s core retail sales dropped by 1.8% in December, following the upwardly-revised 1.7% increase in the prior month. Statistics Canada stated that headline retail sales dropped 0.8% in the reported period, going against what economists had anticipated. Despite the fact that motor vehicle and parts dealers and food and beverage stores recorded gains, sales at general merchandise,health and personal care and electronics and appliance stores had low enough turnover for the general volume of sales to go down.
