Canada inflation and retail sales data due today - preview

Data from Canada due at 1230GMT - April CPI and March retail sales

Correction - due Friday ... my bad. With thanks to the comments for the correction

Retails Sales:

• expected 0.3%, priprior 0.4%
• excluding autos 0.5% expected and 0.0% prior

Inflation

CPI

• expected 0.3% m/m, prior 0.3% also
• expected 2.3% y/y, prior 2.3% also

TD quick preview:

• We expect CPI to rise to 2.4% while average BoC core inflation should remain stable at 2%.
• Retail sales should post a soft 0.2% advance on a pullback in autos, leaving volumes little changed to cap off a disappointing Q1 for the Canadian consumer.
• We also expect growth dynamics (retail sales) to be a more important driver for market pricing, in line with recent BoC commentary