Canada CPI and Retail Sales highlight final trading day of the week
|It’s Friday May 19th, and here is this week’s edition of forex happy hour and market report for the final trading day of the week. The biggest event today will come out of our Canadian buddies, as they release their CPI and retail sales report at 12:30 pm GMT). For the retail trade situation in Canada during the March period, market analysts expect a recovery that will be enough to push both the headline and core reading back into positive territory, versus the respective numbers previously at -0.6% and -0.1%. Canada’s March CPI report was a disappointment because Canada’s CPI only increased by 0.2% month-on-month, missing expectations for a 0.4% rise. Year-on-year, CPI only increased by 1.6%, a slower rate of increase compared to February’s +2.0%. For the upcoming CPI report, the headline reading for April is expected to improve on both a month-on-month and year-on-basis The combination of the reports could create a great deal of volatility in the CAD crosses, so buckle up and create your strategy beforehand so that you’re not caught off guard! Thanks for watching, have a great weekend and come back for more from Capital Index and Invest Diva next week.
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