Due at 1230GMT, Canadian retail sales data for July
- expected +0.6% m/m, up from June at flat, +0.0% m/m
- expected +0.3% y/y, from +0.96% y/y in July
Brief comment from Scotia:
- sales are expected higher for the month
- Two expected drivers include higher gasoline prices that were up by about 3-4% m/m, and higher auto sales
RBC:
- Coupled with still solid-looking labour markets, signs of rising wage growth, and still-strong consumer sentiment, that suggests retail sales could look a little better over the second half of the year than they did over the first.
