Will Canadian Retail Sales Lead USD/CAD For A Break Below Parity?

Written by Terri Belkas, Currency Analyst The release of Canadian consumer spending data is likely to add to evidence suggesting that the Bank of Canada will leave rates unchanged going forward, and may even consider raising rates. Canadian retail sales are anticipated to jump 0.6 percent during the month of May, suggesting that consumption remains strong and will be a positive contributor to Q2 GDP. What Are The Markets Facing? The release of Canadian consumer spending data is likely to add to evidence suggesting that the Bank of Canada will leave rates unchanged going forward, and may even consider raising rates. Canadian retail sales are anticipated to jump 0.6 percent during the month of May, suggesting that consumption remains strong and will be a positive contributor to Q2 GDP. Indeed, we saw that Canadian wholesale... [read full story]