Details about US PMI, Canada’s CPI, retail sales
BBH research team suggests that the preliminary assessment report of the Market US PMI manufacturing, but in terms of economic data, the focus will be on Canada’s CPI.
“Canada releases its retail sales in July and August CPI. The median forecast is for a 0.1% increase in headline retail sales and an increase of 0.5% if automobiles are excluded. The IPC can dial up to 1.4% from 1.3%, while the core rate may slip to 2.0% from 2.1 %.
The Canadian dollar has very little changed before the start of the session of North America. He clings to its gain of 1.3 % this week on the back of a weaker dollar and higher oil prices. The dollar rebounded from yesterday CAD 1.30 and approached CAD 1.3100 in Europe, but comes back and looks poised to retest the lows yesterday. Oil is pulling back after firming to two-week highs yesterday.”