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...
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Worse still was consumer price inflation plunged in September, dropping 0.4% MoM, deflating for the second month in a row...
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We suspect this is not helped by the collapse in Western Canada Select prices...
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And the biggest reaction so far is in the Loonie...
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But, on the bright side, weed is legal now, eh?!
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