Canadian retail sales rose 0.5% as expected, but this came on top of a downwards revision for July: 0.4% instead of 0.6% originally reported. Core sales look worse: no change m/m instead of 0.4% expected and also here we had a downwards revision from +0.9% to +0.5%. This is already more painful.

USD/CAD hits a high of 1.3295, still not hitting 1.33. The pair is basically returning to the top of the range, and the question about breaking 1.33 remains open. Update: we had a break above 1.33, with the pair hitting a new high of 1.3306. The break awaits confirmation.

Read the rest of the article Canadian core retail sales disappoint – USD/CAD shoots above 1.33