The loonie has tumbled to six-week lows (above 1.31/USD) following dismal prints for retail sales and inflation this morning.
Against expectations of a 0.1% rise MoM, Canadian core retail sales slumped 0.4% MoM in August. This is the first drop in retail sales since 2017…
Worse still was consumer price inflation plunged in September, dropping 0.4% MoM, deflating for the second month in a row…
We suspect this is not helped by the collapse in Western Canada Select prices…
And the biggest reaction so far is in the Loonie…
But, on the bright side, weed is legal now, eh?!
