Canada: Retail Sales decline by 1.1% in January vs. -3% expected

• Retail Sales in Canada fell less than expected in January.
• USD/CAD continues to trade with modest gains below 1.2500.

Retail Sales in Canada declined by 1.1% in January to $54.5 billion, the data published by Statistics Canada revealed on Friday. This reading followed December's decrease of 3.4% and came in better than analysts' estimate for a fall of 3%.

"Core retail sales—which exclude gasoline stations and motor vehicle and parts dealers—also posted their second consecutive decline, falling 1.4% in January," the publication read. "In terms of volume, retail sales fell 1.6% in January."

Market reaction

The USD/CAD pair showed no immediate reaction to this report and was last seen gaining 0.05% on a daily basis at 1.2490.