Canada’s retail sales likely to have risen in March

Canadian retail sales are expected to have risen in March. According to a TD Economics research report, retail sales are likely to have grown 0.3 percent, matching their performance from the prior month. Auto sales are expected to have made a positive contribution to the headline print; however, core retail sales are likely to have come weaker, as a deceleration in the housing market and more modest labor market performance weigh on consumer sentiment.

Receipts at the gasoline station is expected to have made a muted contribution as well with prices little changed on the month. Real retail sales are expected to come in slightly below the nominal print; even if an upside surprise in February CPI pushed inflation to a three-year high, prices were just up 0.15 percent on a SA basis.

“This would leave volumes relatively stable near 3 percent y/y, though Q1 is shaping up to be weaker after a soft 0.1 percent increase in January”, added TD Economics.

At 21:00 GMT the FxWirePro's Hourly Strength Index of Canadian Dollar was neutral at -38.5908, while the FxWirePro's Hourly Strength Index of US Dollar was highly bullish at 112.28. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest