Canada’s Retail Sales Rose in May 0.3% - 24.7.2012

The loonie, as the Canadian currency is often called, depreciated yesterday against the greenback - the pair USDCAD touched 1.0203, the highest since July 12. Today the loonie managed to regain some ground – the pair fell to 1.0176 despite Spanish bond yields rose at an auction of short-term debt earlier today and crude oil is still trading close to its one week low. The data from Canada also showed today that retail sales rose 0.3% to 38.9 billion dollars in May, following a 0.6% drop in April. However the measure was reported relatively flat since November 2011 and failed to give a considerable impulse to the currency pair.