Canada: Retail sales and CPI in focus as it’s a quiet day in US - BBH

Research Team at BBH, suggests that as has been the case this week, the US economic calendar is light to close the week, with only the Markit preliminary manufacturing PMI on tap. 

Key Quotes

“It is expected to firm a little from the 51.3 June reading.  On the other hand, Canada reports June CPI and retail sales. 

Canada’s headline retail sales are expected to have stagnated due to soft auto sales.  Without autos, retail sales are expected to have risen by 0.3%. May retail sales rose 0.9% on the headline and 1.3% excluding autos. Consumer prices are expected to have eased to a 1.4% headline pace (from 1.5%) while the core rate may have slowed to 2.0% from 2.1%.”