Retail data for Canada is an opportunity for the CAD

Retail data for Canada is an opportunity for the CAD

Canada will announce the Canadian retail sales and core retail sales on August 21, at 15:30 MT time

Instruments to trade: USD/CAD, CAD/JPY, EUR/CAD

The indicator of retail sales shows the change in the total value of sales at the retail level. The core version of this indicator is almost the same but without automobile sales. Last time, both indicators came out not as high as they were expected to be. While the headline indicator increased by 18.7% (vs. +20.2% expected), the core one rose by 10.6% (vs. the forecast of +11.9%). Despite the negative release, the CAD strengthened against the weaker US dollar. However, this time the situation may be completely different.

  • If the indicators are higher than the forecasts, the CAD will go up;
  • If the indicators are lower than the forecasts, the CAD will go down.

Check the economic calendar

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FED and BOE Make Another Attempt to Beat Inflation
FED and BOE Make Another Attempt to Beat Inflation

The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

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