- The Canadian dollar is tumbling after some disappointing data out of Canada. The loonie was down by 0.6% at 1.2561 per US dollar at 8:32 a.m. ET after being little changed just minutes earlier. Core retail sales fell by 0.7% month-over-month in August, below expectations of an increase of 0.3%. The prior month’s reading came in at 0.2%. CPI rose 0.2% month-over-month, below expectations of a 0.3% uptick. Core CPI rose 0.2% month-over-month, up from the prior month’s reading of 0.0%. “Overall, while the latest inflation data would normally hint at another interest rate hike from the Bank of Canada, the increased uncertainty around NAFTA renegotiations and domestic housing risks will likely mean that it keeps rates on hold next week,” David Madani, senior Canadian Economist at Capital Economics, said in emailed commentary.