Canadian May retail sales chart
  • Prior was +0.2%
  • June advance reading was 0.0%
  • Ex autos -0.8% vs +0.3% expected (prior was 0.0%, revised to -0.3%)
  • July advance reading +0.4%
  • June year-over-year sales -0.6% vs +0.5% prior
  • Sales ex autos y/y -3.3%
Canada retail sales details

Vehicle sales are the only thing holding up sales and I wonder how much of that is delayed orders because Canadian auto inventories are low relative to the US.

In any case, the market is focused on the ex-autos number rather than the headline and advance number. USD/CAD is up 37 pips to 1.3586 and a few more pips on this.