April 24, 2012 12: 58 GMT 
the takeaway: [the Canada retail sales decreased unexpectedly for the first time in seven months] > [auto-led decline] > [CAD weakens against USD]Canadian retail sales decreased unexpectedly in February for the first time in seven months of disappointing sales of automobiles, which reversed the rebound in January after sales have stagnated in December. Statistics Ottawa-based Canada reported today that sales fell 0.2% in February, while the figures for January were revised down 0.2 percent of the related to the origin of 0.5%. The median forecast of economists surveyed by Bloomberg News had called for the month growth of 0.1 per cent, while sales excluding automobiles had projected an increase of 0.6%.
The decline in retail sales was led by vehicles, motor and parts dealers, which decreased by 2.4%. Food and beverage stores experienced the second consecutive month of decline, up decreased slightly by 0.2%. During this time, construction materials and the sale of garden equipment recorded the biggest gain, up 2.2 per cent, while gas stations sales increased 1.7%, reflecting the rise in the price of gasoline.
Chart 1-minute USDCAD: 24 April 2012
The Canadian dollar has fallen against the US dollar the disappointing retail sales figures, falling 19 pips against the greenback in the first minutes after the release of the data. The Canadian dollar continued to lose ground, and at the time of this report, the pair USDCAD was trading at C$ 0.9918.
the takeaway: [the Canada retail sales decreased unexpectedly for the first time in seven months] > [auto-led decline] > [CAD weakens against USD]Canadian retail sales decreased unexpectedly in February for the first time in seven months of disappointing sales of automobiles, which reversed the rebound in January after sales have stagnated in December. Statistics Ottawa-based Canada reported today that sales fell 0.2% in February, while the figures for January were revised down 0.2 percent of the related to the origin of 0.5%. The median forecast of economists surveyed by Bloomberg News had called for the month growth of 0.1 per cent, while sales excluding automobiles had projected an increase of 0.6%.The decline in retail sales was led by vehicles, motor and parts dealers, which decreased by 2.4%. Food and beverage stores experienced the second consecutive month of decline, up decreased slightly by 0.2%. During this time, construction materials and the sale of garden equipment recorded the biggest gain, up 2.2 per cent, while gas stations sales increased 1.7%, reflecting the rise in the price of gasoline.
Chart 1-minute USDCAD: 24 April 2012
The Canadian dollar has fallen against the US dollar the disappointing retail sales figures, falling 19 pips against the greenback in the first minutes after the release of the data. The Canadian dollar continued to lose ground, and at the time of this report, the pair USDCAD was trading at C$ 0.9918.
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