Free Trial

Potentially More Weight On Retail Sales

CANADA
  • A dearth of data today and relatively limited local releases prior to the next BoC, retail sales could get more of a look at 0830ET today.
  • Last month’s flash put June sales up +0.3% M/M (hence Bbg survey 0.4) which would likely be a small decline in real terms, whilst CIBC sees ex-autos +1.0% M/M with much of the strength from higher pump prices.
  • As for the July flash, “a decline in gasoline prices and still struggling auto sales could mean a modest drop in nominal sales” although headline CPI (as quick proxy) slowing to 0.26% M/M would help limit the real drag.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.