Canada core retail sales rise more-than-expected in October

Forex Pros – Core retail sales in Canada rose more-than-expected in October, increasing for the third consecutive month, official data showed on Tuesday.

In a report, Statistics Canada said core retail sales, which exclude automobile sales, rose by a seasonally adjusted 0.9% in October, after rising by 0.2% in September, whose figure was revised down from 0.4%.

Analysts had expected core retail sales to rise by 0.7% in October.

The report also showed that retail sales rose more-than-expected in October, increasing by 0.8%, after rising by 0.4% in September, whose figure was revised down from 0.6%.

Analysts had expected retail sales to rise by 0.5% in October.

The report said the largest increase in sales came in the furniture and home furnishing stores. Meanwhile, the largest decrease came in the general merchandise stores.

Following the release of the data, the Canadian dollar was down against its U.S. counterpart, with USD/CAD gaining 0.06% to hit 1.0175.