I posted this yesterday: Canada inflation and retail sales data due today - preview
A wee bit early I was!
So I'm gonna try again ;-)
Data from Canada due at 1230GMT - April CPI and March retail sales
Retail Sales:
- expected 0.3%, prior 0.4%
- excluding autos 0.5% expected and 0.0% prior
Inflation ... CPI
- expected 0.3% m/m, prior 0.3% also
- expected 2.3% y/y, prior 2.3% also
TD quick preview:
- 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
