Canada July retail sales 0.3% vs. 0.3% est.

Highlights of Canada retail sales for July

• Canada retail sales came in as expected at 0.3%. The prior month was revised slightly higher at -0.1% versus -0.2% previously reported
• Ex autos 0.9% versus +0.6%. Prior month was revised up to 0.1% from -0.1%
• e-commerce sales account for 2.5% of total retail sales versus Junes 2.6%
• sales rose in 8 of 11 subsectors representing 55% of total retail trade
• Borges upside contributorwas gasoline stations, +0.22%
• largest downside contributor was new-car dealers, -0.46%
• Toronto retail sales +0.2%. Montréal, +1.0%. Vancouver, -1.6%

Overall, minor revisions higher make it marginally positive. The USDCAD has moved to new session lows (and eked out a new low for the month (going back to June). The pair tests thte 38.2% at 1.28794. The 200 day MA is a little lower at 1.28636.