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Canada retail sales highlight the quiet release day

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No US data to be released today

The data calendar today is fairly sparse with Canada retail sales and Canada new housing prices index the only schedule releases.

  • Canada retail sales for June are expected to rebound by 4.4% after last month’s -2.1% decline. In April the sales felt -5.7% as Covid lockdowns hurt the retail market. The core is expected to rise by 4.5% after last month’s -2.0% decline in May, the core measure fell -7.2%
  • Canada new home price index for July is expected to rise by 1.3% after a 0.6% gain in June.

Fed president Robert Kaplan will participate in a virtual moderate question-and-answer session at 11 AM ET/1500 GMT.  The weekly Baker Hughes rig count will be released at 1 PM ET.

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