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22 Oct 2015
CAD: Retail sales forecasted to lost momentum - TDS
FXStreet (Delhi) – Paul Fage, Senior Emerging Markets Strategist at TD Securities, suggests that the Canadian retail sales are forecast to have lost some momentum in August, decelerating to a 0.3% monthly advance.
Key Quotes
“The market is more cautious in looking for a 0.1% print. Lower revenues at gasoline stations should be the main impediment to sales while industry data suggests another month of higher auto sales. Excluding this sector, we anticipate a flat print and the retail volumes metric should be close to the nominal figure. A relatively weak print on this front is consistent with our expectation for a soft month for industry-level real GDP.”
Key Quotes
“The market is more cautious in looking for a 0.1% print. Lower revenues at gasoline stations should be the main impediment to sales while industry data suggests another month of higher auto sales. Excluding this sector, we anticipate a flat print and the retail volumes metric should be close to the nominal figure. A relatively weak print on this front is consistent with our expectation for a soft month for industry-level real GDP.”