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The FxPro Analyst Team

Canadian Retail Sales and CPI Data on the Agenda Today

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At 09:30 GMT, UK MPC Member Saunders is due to speak at the University of Strathclyde’s Fraser of Allander Institute, in Glasgow. Comments made may affect GBP pairs.

At 11:30 GMT, German Buba President Weidmann is due to participate in a press conference at the International Monetary Fund’s Spring Meeting, in Washington DC. EUR pairs may be impacted by any comments made.

At 12:30 GMT, Canadian Consumer Price Index (MoM) (Mar) is expected to be 0.4% against 0.6% previously. BOC Consumer Price Index Core (YoY) (Mar) is expected to be unchanged at 1.5%. BOC Consumer Price Index Core (MoM) (Mar) is expected at 0.2% v a prior 0.7%. Consumer Price Index (YoY) (Mar) is expected to be 2.4% against 2.2% previously. Consumer Price Index – Core (MoM) (Mar) came in at 0.2% previously. Retail Sales Ex-Autos (MoM) (Feb) is expected to be 0.3% against 0.9% previously. Retail Sales (MoM) (Feb) is expected to be unchanged at 0.3%. There is a very mixed forecast expected across these data points, which may result in a choppy reaction from the markets, as the data paints an uncertain picture. However, any clear assumption that can be extracted from the data will give traders something to run with. Retail sales are expected to have a stronger showing after missing expectations over last two months but Core Retail Sales are forecasted to show a drop. CAD crosses may be affected by this release, especially if the data deviates from expectations.

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At 15:15 GMT, FOMC Member Williams is due to speak at a fireside chat hosted by the Fisher Center for Real Estate and Urban Economics, in California. USD pairs may be impacted by any comments made.

At 17:00 GMT, the Baker Hughes US Oil Rig Count will be released. The prior number last Friday showed that there were 815 oil rigs in operation, up from 808 the previous week. With oil currently at the highest levels in recent times, on the back of a bigger than expected draw in inventories on Wednesday, this data may set the tone for traders as they look to the week ahead.

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