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Canada core retail sales rise 0.5% in October

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Investing.com - Investing.com - Core retail sales in Canada rose more-than-expected in October, while total retail sales also came in above market forecasts, official data showed on Thursday.

In a report, Statistics Canada said core retail sales, which exclude automobile sales, rose by a seasonally adjusted 0.5% in October, compared to expectations for a 0.2% increase.

September's figure was revised up to a 0.1% increase from a previously reported flat reading.

Total retail sales rose by a seasonally adjusted 0.7% in October, beating expectations for a gain of 0.1%, after rising by 0.2% in September.

Following the release of the data, the Canadian was modestly higher against its U.S. counterpart, with USD/CAD easing down 0.06% to trade at 0.9883.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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