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Core retail sales index for Canada?
The core retail sales index in Canada is an economic indicator that reflects the volume and value of sales in the retail sector in the country, and is calculated based on the revenues achieved by retail stores after excluding some non-essential factors. This indicator aims to measure the country’s economic growth and changes in consumers’ consumer spending.
Canada’s core retail sales index is calculated by excluding sales in areas where price changes are significant, such as fuels and automobiles, where such price change is a factor outside of control and does not reflect actual demand for essential products. The index includes many economic sectors, including food, beverages, clothing, household appliances, electronics, books, magazines, sports equipment, games, gifts, jewelry, cosmetics, medical and health products, and others.
The core retail sales index in Canada is used as a key indicator of the health of the Canadian economy, as it reflects the size and value of consumer spending and thus the strength and growth of the economy. This indicator is important for investors and traders in the forex market to determine market trends and make appropriate financial decisions.
if the release of the core retail sales index in Canada is lower than expected, it means lower consumer spending for consumers, and therefore it can reflect a weak economic condition, and it can lead to a depreciation of the Canadian dollar in the forex market.
How does the release of the Core Retail Sales Index in Canada affect the trading of the Canadian dollar in the forex market?
The release of the Canadian Core Retail Sales Index is one of the factors affecting the Canadian dollar‘s trading in the forex market, as it reflects the size and value of consumer spending in the country. In general, an increase in this indicator could affect the value of the Canadian dollar positively, while a decrease in it could affect the value of the Canadian dollar negatively.
If the release of the core retail sales index in Canada is better than expected, this indicates an increase in consumer spending, which reflects a strong and active economic condition. Because of the increased demand for goods and services in the Canadian market, this can lead to an appreciation of the Canadian dollar in the forex market.
On the other hand, if the release of the core retail sales index in Canada is lower than expected, it indicates lower consumer spending, and this could reflect a weak economic condition. Because of the lower demand for goods and services in the Canadian market, this can lead to a depreciation of the Canadian dollar in the forex market.
The body responsible for issuing the basic retail sales index in Canada
The Core Retail Sales Index for Canada is released by the Canadian government agency Statistics Canada. This agency collects and analyzes economic, social and demographic data in Canada, and provides reports and statistics related to this data.
Statistics Canada’s mission is to provide accurate and reliable data to the Canadian government, academic institutions, local and international communities, businesses and individuals. Canada’s core retail sales index is released on a monthly basis, and is updated after new data is released. This indicator is announced on the Statistics Canada website and through various media in the country.
When is the Canadian Core Retail Sales Index released?
Released monthly, about 50 days after the end of the month
Feb 22, 2024