Canada: Retail Sales increase by 1.1% in September vs. 1% expected

• Retail Sales in Canada rose more than expected in September.
• USD/CAD continues to trade in the negative territory around mid-1.3000s.

Retail Sales in Canada rose by 1.1% on a monthly basis in October to $53.9 billion, the data published by Statistics Canada showed on Friday. This reading followed August's increase of 0.4% and came in slightly lower than the market expectation of 1%.

"Rounding out the third quarter, retail sales were up 22.6% compared with the second quarter. In volume terms, retail sales rose 21.5%," the publication further read.

Market reaction

The USD/CAD showed no immediate reaction to this report and was last seen losing 0.15% on a daily basis at 1.3050.