BoC and US retail sales amongst market movers for today – Danske Bank

Research Team at Danske Bank, suggests that in the US we get data on retail sales in March, which we expect to show control group sales increased by 0.3% m/m.

Key Quotes

“In line with other data, retail sales have been weak in recent months but we expect a rebound as consumers are still optimistic and employment continues to rise. Our base case is that private consumption growth will accelerate in Q2 and Q3 after the slowdown in Q1. We also see the release of the Beige Book in the US.

Bank of Canada is widely expected to keep the policy rate unchanged at 0.50%.

Euro area industrial production for February is due for release today. We expect industrial production to fall in line with the monthly decline of 0.5% for the German figure, which was released last week. The decline in February is likely to be accompanied by a downward revision to the strong print in January as also seen in Germany. In Sweden we have Prospera's inflation survey and the government's spring budget.”