Canada retail sales for September 0.6% vs 0.0% estimate

• Prior month -0.1% (they were expecting -0.3%)
• The September advance estimate was 0.0%
• Retail sales for September 0.6% vs 0.0% est.
• Ex auto 0.2% vs -0.2% est.
• Prior month ex auto, +0.1%
• Ex auto and gas -0.3%% vs -0.3% last month
• October advanced estimate 0.8%
• Retail sales were up in 4 of 9 sectors led by increases in motor vehicle and parts dealers (+1.5%)
• Also contributing to the increase in retail sales in September were higher sales at gasoline stations and fuel vendors (+3.2%). In volume terms, sales at gasoline stations and fuel vendors increased 2.3%.

Statistics Canada has released an advance estimate of retail sales for October, indicating a 0.8% increase. However, this figure is subject to revision as it is based on early data from only 48.7% of the surveyed companies. The average final response rate for this survey over the past year was 88.6%.

The USDCAD is moving lower after the better than expected report and looks toward the low from earlier this week at 1.3650. The low today has reached 1.3657.