Canadian Retail Sales better than expected, leading indicators as expected
Data issued showed that Canadian Retail sales rose to 0.4% compared to the previous decline by -0.2% and even marginally higher than the expected 0.3%. A good portion of the growth is attributable to the automobiles sector as retail sales less autos for the same period came out only at 0.1%.
Leading indicators for the month of April, reported from Canada as well, came out at 0.3% compared to the previous 0.4% and the expected 0.3%.
In his comments last month the BoC governor implied that the policy rate may have to eventually rise on the back of faster than expected growth.
The USD/CAD has traded in the range of 1.0204 – 1.0245 so far today.
Good Afternoon.
RTFX Ltd (“RTFX”) is licensed to conduct investment services business by the Malta Financial Services Authority. This information does not constitute an offer or solicitation and is provided for information purposes only. This information shall not be deemed to constitute advice and should not be relied on as such to enter into a transaction or for any investment decision. Any opinions expressed in this document represent the views of RTFX at the time of preparation. They are thus subject to change without notice. RTFX believes that the information contained herein is accurate as at the date of publication. However, no warranty of accuracy is given by RTFX and no liability in respect of any errors or omissions, including any third party liability, are accepted by RTFX or any director, officer or employee.
