Key events for the loonie – TDS

By FXStreet FXStreet (Guatemala) – Analysts at TD Securities explained the key data events for Canada next week.

Key Quotes:

“Canada September Retail Sales (20 Nov): We are forecasting a 0.8% m/m decline in September retail sales. Much of the weakness is expected to be related to two sectors – gasoline and home furnishing sales. On a seasonally adjusted basis, we are tracking a near 6% m/m decline at the pump. On the other hand, existing home sales plummeted by nearly 4% in September, the worst decline since December last year (when oil began its downward spiral), with weakness widespread across a number of provinces. Autos are expected to be a modest positive but we do see a risk of a negative print following 7 consecutive monthly gains. Excluding this sector still leaves core spending tracking at -0.8% m/m. The food and beverage sector is also biased to the downside after a near 5% gain in alcohol sales. In volume terms, we expect retail sales to contract but not as weak as the nominal headline figure, which nonetheless still points to a drag for industry level GDP.

Canada October CPI (20 Nov): Seasonal factors are expected to be moderately positive for the October CPI …read more

Source:: FX Street