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MNI PREVIEW: April Wholesale Sales --...>

CANADA DATA
CANADA DATA: MNI PREVIEW: April Wholesale Sales -- Thurs 8:30 EST
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- MNI median -12% MoM, prior -2.2%.
- Decline would be biggest on record. Dollar value of sales already lowest since
Jan 2015.
- Slump would follow unexpected weakness in factory sales (-29% MOM) and CPI
(-0.4% YOY), put focus on potential for downside to Q2 GDP forecasts.
- Autos may lead declines as dealers shut for Covid-19, offset by food. 
- Inventory-to-sales may break record 1.45; was 1.44 in March.

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