MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI BRIEF: Former BOC Dep Beaudry Sees 2.75%-3% Rate In 2025

BOC WILL BE CONSDIERING FURTHER RATE CUTS

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

US EIA: CRUDE OIL STOCKS EX SPR -1.42M TO 422.0M DEC 06 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Retail Sales Don't Move The Needle Ahead Of BoC

CANADA
  • A mostly in line retail sales print, albeit with some nuance, sees Canadian assets mostly track international moves.
  • GoCs have rallied 2bps through 2-10Y tenors since the retail sales report but it’s mostly in keeping with Treasuries. GoCs sit 2-5.5bp richer across the curve.
  • USDCAD is 10 pips lower since the data to reverse a quick lift beforehand. It remains within yesterday’s range, currently at 1.3697.
  • Some more detail: Retail sales as expected in August at -0.1% (cons -0.1) as they improved from the -0.3% indicated at the advance release.
  • Volume details were mixed, falling a heavy -0.6% M/M seasonally adjusted (-0.7% NSA) but after some upward revisions. Volumes have fallen in four of the past six months.
  • The lack of bounce in the advance for September values doesn’t bode well for momentum though, indicated as unchanged.
  • BC port strikes still had an impact in August, with 12% of retailers reporting disruption from 17% in July.
Homepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange BulletsCanada Bank of Canada Market News
Homepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange BulletsCanada Bank of Canada Market News

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.