Canada July 2019 retail sales data:

  • Prior was 0.0% (revised to -0.1%)
  • Ex autos -0.1% vs +0.3% expected
  • Prior ex-autos was +0.9%

The headlines are poor and erase some of the positive sentiment from the surprising strength in June.

Details:

  • Ex autos and gas -0.1% vs +1.7% prior
  • Gas station sales +0.3% vs -3.4% prior
  • Building materials -3.2% vs +6% prior
  • Sales were up in 6 of 11 subsectors
  • Full report

Auto sales were a big driver with new car sales up 2.4% m/m. A fun tidbit, cannabis sales were up 14.3% in the month to break $100m for the first time.

USD/CAD has jumped on the headlines to hit 1.3292 from 1.3266.