Canada rocks: retail sales jumped by 1.7% in March, much better than 0.5% expected. Sales excluding autos are up 2%, also far better than 0.5% predicted. Inflation data also shines: 1.2% y/y in the headline number, better than a flat 0% estimated and core inflation rises from 2% to 2.4% y/y. Month over month, rises of 0.6% and 0.7% were reported respectively. Foreign securities purchases beat with 9.27 billion instead of 6 billion expected. It’s impressive beats across the board.
USD/CAD is already below 1.21, a reaction of over 100 pips.
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