Retail Sales in Canada

• Core Retail Sales (m/m) (May), fact -0.3%, forecast 0.3%.
• Retail sales (m/m) (May), fact -0.1%, forecast 0.3%.

Retail sales in Canada slowed down significantly in May. By doing so, they confirmed concerns about a slowdown in consumer inflation after the rapid growth in March. Also the rate of slowdown is worth noting, which exceed the growth rates.

Fig. 1. Chart of  core index of retail sales in Canada

The Canadian dollar has weakened significantly on these statistics. The USD/CAD pair accelerated growth, updating the high at 1.3100. As a result, the pair returned to the almost monthly lateral channel, limited to resistance levels: 1.3120 and 1.3140.

Fig. 2. USD/CAD chart. Current price – 1.3100

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Hanzenko Anton

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