Canada December retail sales -1.8% vs -2.1% expected

• January advance flash estimate +2.4%
• Prior was +0.7%
• Ex autos -2.5% vs -2.0% expected
• Prior ex autos +1.1%
• Ex autos and gas -2.4% vs +1.5% prior
• New auto sales -0.4% vs +0.1% prior
• Building material and garden equipment +14.1% vs +3.0% prior
• E-commerce sales +14.2% vs 1.1% y/y prior
• Full report

The advance number is more of a market mover than the current month. Economists still don't estimate it but if they did, I suspect it would have been lower rather than than higher because of harsh lockdowns throughout the country in January. The advance estimate -- if it holds -- shows that consumers have largely learned to live with covid restriction (though hopefully they're a thing of the past).

USD/CAD CAD The Canadian dollar (CAD) is the official currency of Canada and at the time of writing is the fifth most-held reserve currency in the world behind only the US dollar, euro, Japanese yen, and British pound.The CAD is commonly referred to as the Loonie by forex analysts and traders. At the time of writing, the CAD accounts for 2% of all global currency reserves.Its appeal is strong among central banking authorities given Canada’s economic strength, sovereignty, and historic stability.Originally i The Canadian dollar (CAD) is the official currency of Canada and at the time of writing is the fifth most-held reserve currency in the world behind only the US dollar, euro, Japanese yen, and British pound.The CAD is commonly referred to as the Loonie by forex analysts and traders. At the time of writing, the CAD accounts for 2% of all global currency reserves.Its appeal is strong among central banking authorities given Canada’s economic strength, sovereignty, and historic stability.Originally i Read this Term is up 5 pips to 1.2705 today. The data was overshadowed by headlines in Ukraine.