Forex Market Sentiments

Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.

Markets are watching Retail Sales in Canada

The retail sales in Canada have hit a snag. Retail and core retail sales fell for the second month in a row in March. The headline retail sales rate was -1.4%, while the core rate fell by 0.3%. The markets anticipate better news in the April report, with the headline reading expected to be 0.2% and the core rate expected to be 0.4%. Consumers have been hard hit by the cost-of-living crisis and have cut back on spending, with inflation running at 4.4% and the Bank of Canada continuing to raise interest rates.