Canada Retail Sales Dropped by 0.2% in February

By IBTimes Staff Reporter | April 24 2012 9:05 AM

Canada released the retail sales index for the month of February, where retail sales dropped by 0.2%, below the expected reading of 0.1% rise and compared with the prior reading of 0.5% and revised to 0.2%, while retail sales excluding autos increased by 0.5%, better than the prior of -0.5% and revised reading to -0.8%, yet below expectations of 0.6%.

Sponsorship Link

The Canadian Dollar retreated after the news, as USD/CAD pair rose by nearly 20 pips during the first five minutes after the report was released, while on daily scale the pair still is declining, where USD/CAD pair is trading at 0.9903 compared with opening levels of 0.9922.