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The FxPro Analyst Team

Canadian Retail Sales Expected to Pick Up – March 23, 2018

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At 10:30 GMT, Russian Interest Rate Decision is expected to be cut to 7.25% against the current 7.50%. RUB traders will be closely following this data release.

At 12:10 GMT, FOMC Member Bostic is due to speak about the economic outlook at the Knoxville Economics Forum. Audience questions are expected and comments may cause moves in USD crosses.

At 12:30 GMT, US Durable Goods Orders Ex-Transportation (Feb) is expected to come in at 0.5% from -0.3% previously. Durable Goods Orders (Feb) is expected at 1.5%% v -3.7% previously. This data series missed to the downside last time out but it is expected to show recovery today. USD crosses may be heavily traded as a result of this data.

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At 12:30 GMT, Canadian Consumer Price Index (MoM) (Feb) is expected to be 0.5% against 0.7% previously. BOC Consumer Price Index Core (YoY) (Feb) is expected to be 1.4% against 1.2% previously. BOC Consumer Price Index Core (MoM) (Feb) is expected to be unchanged at 0.5%. Consumer Price Index (YoY) (Feb) is expected to be 2.0% against 1.7% previously. Consumer Price Index – Core (MoM) (Feb) is expected to be 0.5% against 0.2% previously. Canadian Retail Sales Ex-Autos (MoM) (Jan) is expected to be 0.9% against -1.8% previously. Retail Sales (MoM) (Jan) is expected to be 1.1% against -0.8% previously. Inflation is expected to strengthen after a beat last month. Retail sales are also expected to have a strong showing after missing expectations last month. This comes on the back of tariff exemptions for Canada, which sent USDCAD lower to trade just above 1.29000. CAD crosses could be affected by this release, especially if the data deviates from expectations.

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At 12:30 GMT, UK MPC Member Vlieghe is due to speak at the Birmingham Chamber of Commerce. Comments may cause moves in GBP pairs.

At 14:00 GMT, US New Home Sales (MoM) (Feb) is expected to come in at 0.623M from 0.593M previously. New Home Sales Change (MoM) (Feb) is expected at 4.4% v -7.8% previously. On the back of strong HPI data yesterday, Sales are expected to improve after falling for three months. USD crosses may be heavily traded as a result of this data.

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At 17:00 GMT, Baker Hughes US Rig Count numbers will be released. The prior number last Friday showed that there were 800 Oil rigs in operation. WTI traders will be paying close attention to this number as they look to the week ahead.