Canada’s Dollar Has Increased After Strong Retail Sales Data

Market Reviews

The Canadian dollar has strengthened after data on retail sales. The volume of retail sales increased by 0.8% mom in April, well above expectations of 0.3% mom. Ex-auto sales increased by 1.5% mom.

The US dollar was trading mixed in relation to other currencies. The New Zealand dollar strengthens after the RBNZ left the interest rate unchanged at a record low 1.75%.

Data from the US showed that initial jobless claims increased by 3k to 241k in the week ended June 17. Continuing claims increased by 8 thousand to 1.94 million for the week ending June 10.