Canada is set to print its retail sales and CPI numbers this week! What can you expect from the events?
CPI (Feb 19, 1:30 pm GMT)
- Headline consumer prices stagnated in December, an improvement from November’s 0.1% decline
- CAD would’ve strengthened at the news if not for the BOC’s dovish statement at the time
- Markets expect headline CPI at 0.3%, while annualized prices is seen at 2.4% (from 2.2%)
Retail sales (Feb 21, 1:30 pm GMT)
- Retail trading rose by 0.9% in November after a 1.1% decline in October
- The report caused an intraday pop for CAD though not as big as other catalysts
- Analysts see headline retail sales slow down to 0.2% in December
- Core retail sales could improve from 0.2% to 0.3% for the month
- Coronavirus and its impact on trading and travel (and therefore oil demand) can continue to affect CAD’s price action
- Watch out for updates on what OPEC and friends are planning once the output cut deal ends at the end of March
- Calendar events like PMI reports and central bank meeting minutes can also affect demand for the high-yielding comdoll
- Stochastic considers CAD as “overbought” against JPY, CHF, and EUR
- CAD has gained the most against NZD, EUR, and AUD and has lost the most pips against GBP, JPY, and USD in the last 30 days
Roz has been engaged in the financial markets since 2017, specializing in Foreign Exchange, Before joining to FOREX IN WORLD she start to learn forex trading related information.
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