Canada: Focus on retail sales and CPI data – TDS

Analysts at TD Securities suggest that retail sales and CPI will provide the first top-tier data for the Canadian economy since the July BoC meeting.

Key Quotes

“TD looks for an above-consensus 1.3% increase(market: 1.0%) in retail sales as the weather-related drag from April unwinds. Motor vehicle sales should lead the pickup, leaving ex-auto sales 0.5% higher on the month, in line with market expectations.”

“For CPI we are on-consensus for inflation to edge higher to 2.3% y/y from 2.2% in May, re1flecting unchanged prices on the month.”