Top tier Canadian data coming up at the bottom of the hour
The April CPI is forecast to rise 0.5% m/m and 1.7% y/y. Those are accelerations from the 0.2% m/m and 1.6% y/y reading in March.
The Bank of Canada isn't likely to be shaken off it's neutral-to-dovish stance by today's CPI. The core measures will be notable as well. The BOC uses three different ones -- common, trim and median.
The more market-moving report is likely to be March retail sales. It's a laggy report but it's the best read on the Canadian consumer, which has been a major engine of economic growth as people tap into rising house prices. The consensus is for a 0.3% m/m rise and 0.2% excluding autos.
