Canada: Retail Sales decline by 0.5% in September vs. -0.7% expected

• Retail Sales in Canada fell more than expected in September.
• USD/CAD continues to trade in negative territory at around 1.3400.

Retail Sales in Canada declined by 0.5% on a monthly basis in September, the data published by Statistics Canada revealed on Tuesday. This reading followed August's increase of 0.4% and came in slightly better than the market expectation for a decrease of 0.7%.

Further details of the publication revealed that Retail Sales ex-Autos fell by 0.7% in the same period, compared to analysts' estimate for a contraction of 0.4%.

Market reaction

USD/CAD showed no immediate reaction to these figures and it was last seen trading at 1.3405, where it was down 0.3% on a daily basis.