In April, Canada retail sales rose 0.1% mom, below expectations of 0.2% mom. Ex-auto sales rose 0.1% mom, also below expectation of 0.4% mom. Looking at some details, sales were up in 7 of 11 subsectors, representing 74% of retail trade. Higher sales at gasoline stations (1.2%) and food and beverage stores (0.4%) were the main contributors to the gain. Geographically, sales Ontario (0.9%) and Alberta (1.6%) continued their upward trend. Retail sales in Quebec (-1.3%) were down for the first time in 2019. In British Columbia, sales decreased -0.5%
USD/CAD turned into consolidation after hitting 1.3151. But there is no sign of bottoming yet. With 1.3257 minor resistance index, recent fall is expected to resume sooner rather than later to 1.3068 support next.
