USDCAD: Healthy retail sales data expected – TDS

FXStreet(Delhi) – Prashant Newnaha, Rates Strategist at TD Securities, suggests that we are broadly in line with the market in looking for a healthy 0.9% m/m gain in July retail sales (market: +0.7%) with the ex-autos measure forecast to increase by 0.3% (market: 0.5%).

Key Quotes

“Sales should be supported both by the automotive component and from gasoline stations. Rising consumer prices—note the price of gas increased by almost 2% in the month—will correspond to a more subdued increase in the volumes metric.”