Canadian retail sales kick off a busier economic calendar

22 June 2016, 15:53
Sherif Hasan

Fedspeak, existing home sales and Eurozone consumer confidence on the schedule

Canadian consumers have shrugged of the commodity bust so far and that's expected to be the case once again in April with retail sales expected to rise 0.8% (+0.7% ex-autos). The ex-autos line is the one to watch, along with the categorical breakdown. The range of economists estimates is from +0.2% to +1.3%.

The Fed's Powell was on CNBC a short time ago and up next it's the Fed's Fischer, who is participating on a panel in Sweden. There will be a text of his speech released at 1325 GMT (9:25 am ET).

The Fed's Yellen is back for Day 2 of Humphrey Hawkins at 1400 GMT (10 am ET). The second day is rarely a market mover. Expect more political grandstanding and repeats of the same comments.

The US data docket features existing home sales at the same time as Yellen and EIA weekly oil inventories are due thirty minutes later. The bond market may add a bit of intrigue with 30-year TIPS to be auctioned off at 1530 GMT (1030 am ET).

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