Canada’s August retail sales rose +1.2%, below +1.3% expected and the +1.3% advance reading, following -0.7% previously. Sales increased across all 9 subsectors, led by motor vehicles; ex-autos sales exceeded expectations. September’s advance estimate showed +0.7% m/m growth. The article interprets spending strength as supporting a Bank of Canada rate hike next week and reports USD/CAD at a one-month low. However, it provides no volume results, and retail sales exclude services, limiting conclusions about overall consumer spending.
The publisher argues that September’s advance estimate and RBC spending data indicate ongoing strength, supporting expectations of a Bank of Canada hike.
InvestingLive / ForexLiveAugust retail sales rose +1.2%, versus +1.3% expected and +1.3% advance; prior -0.7%.
InvestingLive / ForexLiveAll 9 subsectors gained, led by motor vehicles; August ex-autos rose +1.2% versus +1.0% expected; prior -0.7%.
InvestingLive / ForexLiveSeptember advance retail sales rose +0.7% m/m; separate RBC cardholder data showed core sales up 0.5% m/m.
InvestingLive / ForexLiveThe publisher argues spending strength supports a Bank of Canada hike next week, reportedly priced at just under 80%.
InvestingLive / ForexLiveThe article reports USD/CAD at a one-month low and breaking 1.40 that day, alongside declining Fed pricing.
InvestingLive / ForexLiveLimitation: September is preliminary, volume results are absent, and retail sales exclude services.
InvestingLive / ForexLiveNo EURUSD price data around this story yet.
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