Analysts at TDS offer a brief preview of the Canadian April CPI and March retail sales data due to be reported this Friday at 1230 GMT.
“We expect CPI to rise to 2.4% while average BoC core inflation should remain stable at 2%.
Retail sales should post a soft 0.2% advance on a pullback in autos, leaving volumes little changed to cap off a disappointing Q1 for the Canadian consumer.
We also expect growth dynamics (retail sales) to be a more important driver for market pricing, in line with recent BoC commentary.”
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