Daily digest market movers: Canadian Dollar grinds out thin gains despite forecast miss...من Wulan Viana

17 Jun 2024, 20:53 · Views 84

Canadian Manufacturing Sales rebounded 1.1% MoM in April, slightly missing the forecast 1.2% and recovering from the previous month’s revised -1.8%.
Wholesale Sales recovered 2.4% over the same period but missed the expected 2.8%. Wholesale Sales provided a firmer recovery from the previous -1.3%, which was also revised slightly lower from -1.1%.
UoM Consumer Sentiment Index unexpectedly declined in June, falling to 65.6 after markets expected a climb to 72.0 from the previous 69.1. The backslide represents the key sentiment indicator’s worst print in six months.
UoM 5-year Consumer Inflation Expectations also rose in June, climbing to 3.1% from the previous 3.0%. According to the UoM’s consumer survey, spender expectations of future inflation have climbed to their second-highest level since the covid pandemic era.
Coming up next week, Canadian data continues to play second fiddle, restricted to mid-tier releases at best throughout the week. US Retail Sales will be a key print on Tuesday.

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