The GBP/CAD currency pair edged lower on Friday, pulling back from a one-week high, after data showed UK retail sales had decreased at a steeper rate than expected in September.
Retail sales in the country shrank 0.9% month-over-month, compared with market expectations of a 0.2% decrease, following a 0.4% growth in August.
Sales at non-food stores went down 1.9% in September amid continuing inflationary pressures and as the unseasonably warm weather reduced sales of autumn-wear clothing.
Sales at food stores edged up 0.2% month-over-month, while sales of auto fuel rose 0.8%.
Meanwhile, retail sales, which exclude fuel sales, went down 1% month-over-month in September, compared with market expectations of a 0.4% slump.
In annual terms, UK retail sales dropped 1% in September, again at a much faster pace than expected.
In other macro data, CAD traders now look to Canadian retail sales numbers for August, which will be released at 12:30 GMT.
Canadian retail sales probably dropped 0.3% in August from July, according to a consensus of analyst estimates, after a 0.3% growth in the prior month.
As of 7:05 GMT on Friday GBP/CAD was edging down 0.28% on the day to trade at 1.6609. Yesterday the minor Forex pair went up as high as 1.6687. The latter has been the pair’s strongest level since October 13th (1.6708).
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
