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Retail Sales Core (MoM) (Canada)

USD/CAD
Event Date: Friday, January 19, 2024
Event Time: 13:30 CET

Retail Sales Expected to Slow Down

Updated Wednesday, January 17, 2024
EVENT ENDED
In January this year, retail sales were expected to increase after several negative months in 2018. But they posted yet another decline of 0.3%, making it the third negative month in a row. Although, in February they jumped 0.8% higher, while core sales increased by 0.6%. The report released last month which was for March showed a bigger increase of 1.1% for headline retail sales and a 1.7% increase for core sales. But the report for June showed only a decline in both, core and headline sales. Last month's report showed that headline sales remained flat in June while core sales posted a strong increase of 0.9%. In July, core sales turned negative again, declining by 0.1%, while in August core sales declined by 0.2%, while headline sales fell 0.1% lower. In October, headline sales posted a big 1.2% decline, while core sales declined by 0.5%. After some volatile numbers, sales stabilized in February and March this year, but they declined again in April and in May, as coronavirus restrictions returned in the country. Sales turned negative in  August declining by -0.1% but they are expected to remain flat at 0.0% in September. Retail Sales increased by 0.6% that month instead, and by 0.75 in October, but November is expected to fall flat at 0.0%. Please follow us for live coverage of this event by experienced analysts.  

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About Retail Sales Core (MoM) (Canada)
Released monthly by Statistics Canada, Core Retail Sales (MoM) is a measure of the change in the aggregate value of goods sold by retail merchants. This metric excludes sales from the automobile sector. Core Retail Sales is based upon retailers of various types and sizes. It is meant to be a measure of both consumer confidence and performance of the retail sector. Higher than projected readings indicate economic growth and a bullish view of the CAD. Reports that disappoint estimates are viewed as bearish toward the CAD.
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fxl5cdaac18bc7401.69412646
fxl5cdaac18bc7401.69412646
5 years ago

News is positive for CAD then why CAD is declining against USD?

Skerdian Meta
Editor
4 years ago

The CAD is closely correlated to crude Oil and oil has been bearish recently, hence the decline in the CAD

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