According to the latest figures from Statistics Canada released on Friday, Canadian Retail Sales fell by 0.6% MoM in September, less than the 1.7% expected decline. In August, Retail Sales increased at a MoM pace of 1.8%. Excluding autos, Retail Sales fell by 0.2% MoM in September, less than the 1.0% expected drop, after rising 2.6% MoM in August.
Market Reaction
The loonie has not seen any market reaction to the latest Canadian data and continues to trade on the back foot amid sharply lower crude oil prices and a risk-off market tone.
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