The South African Finance Minister is delivering a budget speech today. There may be a strong impact on ZAR, so what's going to happen?
Retail data may shake the loonie
Canada will publish the headline and core retail sales on January 24 at 15:30 MT time.
Retail indicators show the change in the total value of sales at the retail level. The main difference between the headline and core indicators lies in the fact, that the latter excludes automobile sales due to their volatility. Last time both indicators came out much lower than the projections. While the forecasts were quite optimistic, the actual figures showed a decline. The retail sales fell by 1.2%, and core retail sales - by 0.5%. As a result, the Canadian dollar moved down. Will we see a different outcome this time?
• If the indicators are greater than the forecast, the loonie will rise;
• If the indicators are lower than the forecasts, the loonie will fall.
Coronavirus pushse gold and currencies to where they have not been for years. What next?
Canadian monthly GDP will be out at 15:30 MT time on Friday.