By Darrell Martin
Canada is hoping for some change since last month’s report was released for their Core Retail Sales. This report measures the change in the total value of sales at the retail level, not counting the sales of automobiles. Last month, the reading was way down at -0.3 percent.
This month’s forecast is 0.4 percent. This report is an important indicator of consumer spending. It also reflects on the state of Canada’s economy. A higher than expected reading should be taken as positive or bullish for the CAD, while the opposite would be true for a lower than expected reading. This report has a high level of importance.
Other reports set to be released at the same time are Retail Sales and Corporate Profits. Retail Sales is also forecasting an increase at 0.6 percent. Last month, the report came in at -0.3 percent. This report measures the change in the total value of inflation-adjusted sales at the retail level. If it has a higher than expected reading, it should be regarded as positive or bullish for the CAD. Lower than expected would mean negative or bearish for the CAD. This is a medium level of importance report.
Corporate Profits is a report released quarterly, usually around 55 days after the quarter ends. It measures the change in the total value of profits earned by Corporations. It is given a Low level of importance. No forecast is given, but the previous report was 2.6 percent.
Doing an Iron Condor using Nadex Spreads could be a good choice for this news trade.
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