-
USDCAD Off Intraday Lows After Weak Canada Retail Sales Data
The USDCAD is off intraday lows after data from Statistics Canada showed that Canada Retail Sales only grew up 0.4% for August, which was much less than the consensus and previous figures of 1.1%. Core Retail Sales (retail sales ex.autos) grew 0.5%, which was higher than the -0.4% figure released for August. The Canadian Dollar experienced some weakness as a result of the news, but this weakness has been tapered as the Core Retail Sales showed a vast improvement from the poor data seen in July. As a result, the USDCAD that had touched off intraday lows at 1.30810, was now trading at 1.31153. Crude oil prices were ... (full story)