Retail Sales in Canada increased at a stronger pace than expected in April.
USD/CAD remains around 1.3210/20, marginally lower for the day.
Statistics Canada reported on Wednesday that Retail Sales rose by 1.1% on a monthly basis in April. This reading came in higher than the market expectation for an increase of 0.2%.
“Core retail sales—which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers—increased 1.5% in April. In volume terms, retail sales increased 0.3% in April”, Statistics Canada noted in its publication.
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