Canada Retail Sales come out weaker than expectations. USDCAD moves higher and tests 100 hour MA

Canada Retail Sales come out much weaker than expectations

• Headline is -0.5% vs 0.2% expected
• Ex Autos also weak at -0.3% vs +0.3% expected

The ex autos last month was revised up to +0.3% from +0.1% softening the blow a bit.

The USDCAD moved higher on the move and tested the 100 hour MA at the 1.0210 level. A break above this level will be needed for further upside momentum today.