Retail sales for December. Ex Auto -1.6%. Weaker than expectations
The ex auto from last month was revised to to 1.0% from a prior 1.1%.
- The fall is the largest since April 2010
- Drop 2.3% in volume terms
- Was motor vehicles/parts largest downside contributor was motor vehicles/parts
- Largest upside contributor was home furnishings
- declines were widespread. 10 of 11 categories were lower
- Later snowfalls and unseasonably warm weather in many parts of Canada, contributed to lower seasonal purchases
Overall a weak number. The USDCAD has moved modestly higher but is hitting session highs. The 200 hour MA comes in at 1.3836