For the week of April 17-21.
It will be a relatively slow week for data in Canada with the two main releases for international securities transactions and consumer prices. The biggest releases in the United States this week will include empire manufacturing, housing starts, building permits, and industrial production. The Federal Reserve will also be releasing their Beige Book this week.
Consumer prices for the month of February were at a growth of 0.2 percent for month-over-month, and 2.0 percent for year-over-year basis. Consumer prices for the month of March were lower than expected in the United States. Prices fell by 0.3 percent on a month-over-month basis and grew by only 2.4 percent on a year-over-year basis. Expectations were a growth of 0.0 percent and 2.6 percent. Removing food and energy prices from the indicator brings growth to -0.1 and 2.0 percent, also below expectations. Retail sales growth dropped by 0.2 percent on a month-over-month basis for March, in line with expectations.
Manufacturing sales in February also dropped in growth of 0.2 percent on a month-over-month basis, following a revised growth of 0.1 percent in January. Economist expectation for growth was to drop even lower by 0.7 percent for the month. Manufacturing volumes were up by 0.1 percent for the month and inventories were increased by 1.6 percent.
Oil prices are down by 0.81 percent, while the Canadian dollar trades up on the US dollar. Today’s expected range is 1.3242 – 1.3342.