U.S. Retail Sales and Canadian GDP
USA:
- Core price index of personal consumption expenditures (y/y) (September), fact 1.7%, forecast 1.7%.
- Core price index of personal consumption expenditures (m/m) (September), fact 0.0%, forecast 0.1%.
- Labor Force Cost Index (q/q) (Q3), fact 0.7%, forecast 0.7%.
- Initial jobless claimss, fact 218K, forecast 215K.
- Price index of expenses for personal consumption (m/m) (September), fact 0.0%, previous value 0.2%.
- Price index of personal consumption expenditures (y/y) (September), fact 1.3, previous value 1.4.
- Individual expenses (m/m) (September), fact 0.2%, forecast 0.2%.
Canada:
- GDP (m/m) (Aug), fact 0.1%, forecast 0.2%.
- Raw Material Price Index (RMPI) (m/m) (September), fact 0.0%, forecast 2.5%.
Canadian economic growth data showed a more significant economic slowdown than expected, increasing pressure on the Canadian dollar. The Canadian dollar remains limited in decline due to its overselling after the meeting of the Bank of Canada.
Fig. 1. Canadian GDP chart
U.S. retail sales data were more in line with the forecast, confirming fears of a slowdown in spending. Separately, it is worth to note the data on initial applications for unemployment benefits in the US, which have grown. This will put a significant pressure on the American dollar before Friday’s US employment report.
Fig. 2. Initial jobless claims in the United States
Read also: “U.S. and China are returning to the negotiating table”
Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- Increased transportation costs: a driver for rising oil prices
- An uncertainty about Brexit is increasing
- Aggravation of the US – eurozone trade tension
Current Investment ideas: