Canada will publish retail sales and core retail sales at 15:30 MT time on December 20. The headline indicator shows the change in the total value of sales at the retail level. The core one is generally the same, but without automobile sales due to their volatility. These indicators are important as they show the level of consumer spending in the country. The previously released data was positive for CAD bulls. While core retail sales advanced by 0.2%, the headline indicator fell, but the decline was smaller than the analysts’ expectations (-0.1% vs. -0.3% expected).
• If the releases are greater than analysts’ expectations, the CAD will rise;
• If the releases are weaker than analysts’ expectations, the CAD will fall.