Canadian March retail sales +0.7% vs +0.3% m/m expected

Highlights of the Canadian March retail sales report:

• Prior reading was +1.7% (revised to 1.7%)
• Ex autos +0.5% vs +0.4% exp
• Prior ex-autos was +2.0% (revised to 1.8%)

Given the revisions, this is very close to expected in ex-autos and slightly stronger on the headline. At the moment, USD/CAD is more focused on slightly lower CPI numbers but the US dollar is stronger across the board.