Market Focus

On Thursday, November 23, 2017, it is worth focusing on data on the retail sales index and the volume of retail sales in Canada. The base retail sales index is a measure of all sold goods of different types of retail trade except auto. This is an important indicator of consumer spending and the pace of economic development.

According to the forecast, the base retail sales index in September will grow by 1.0%, against the decline in August at the level of -0.7%. The volume of retail sales will grow in September by 0.9%, which is higher than the previous value at the level of -0.3%. The release of data within the forecast will support the Canadian currency. So, one should expect it to strengthen within 40-50 points against the competitors.

Alexander Sivtsov