Time: 11:30 pm GMT, Morocco time: 12:30 hours, Egypt time: 2:30 hours, Saudi time: 3:30 hours, UAE time: 4:30 hours
Previous: -0.3% Expected: 0.1% Actual: -0.1%
Canadian retail sales monthly
The monthly Canadian retail sales index can be described as a measure of changes in the volume of retail sales in Canada over a certain period of time, as this index is measured regularly each month. The index is calculated by analyzing the volume of sales in various retail sectors in Canada, such as food, beverages, clothing, household appliances, and electronics. This index is usually used to assess the health and trends of the Canadian economy.
If the release is lower than expected, it is negative and indicates a downturn in the Canadian economy. This means that the volume of retail sales declined less than expected, and this could lead to a decline in demand for products and services and a decline in economic performance.
How does the release of the Canadian retail sales index affect the trading of the Canadian dollar in the forex market?
The release of the monthly Canadian retail sales index can affect the Canadian dollar’s trading in the forex market significantly. This is because the index is an important indicator of the health of the Canadian economy, and reflects the volume of retail sales in the country, and it indicates the strength or weakness of the Canadian economy.
When the index is released and it is higher than the expected expectations, this indicates a high volume of retail sales in Canada, and therefore this could lead to a higher demand for the Canadian dollar by traders in the forex market, which leads to a rise in the value of the Canadian dollar against other currencies.
On the contrary, if the release of the index is less than the expected forecast, then this indicates a decline in the volume of retail sales in Canada, and therefore this could lead to a decrease in the demand for the Canadian dollar by traders in the forex market, which leads to a decrease in the value of the Canadian dollar against other currencies.
The entity responsible for issuing the Canadian retail sales index
The Canadian Retail Sales Index is released by Statistics Canada, a Canadian government agency responsible for collecting, analyzing and publishing statistical data. Statistics Canada conducts periodic studies and surveys on businesses and individuals in Canada to collect data on retail sales and many other indicators related to the Canadian economy. Canadian statistics are characterized by accuracy and credibility, as they are considered a reliable source of economic information related to Canada. The Canadian government, central banks, traders in the forex market and others use Canadian statistics and indicators to make appropriate economic and investment decisions.
When is the Canadian Retail Sales Index released?
Released monthly, about 50 days after the end of the month
Next release
May 24, 2024
