The North American consumer is the focus of the economic calendar today
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The Friday calendar is an interesting one
We got some modest disappointment in August US retail sales this week and now we turn back the clock a month for July Canadian retail sales. The consensus is +1.0% after a 23.7% jump in June. Given the dated nature of the report, I wouldn’t expect a big response from CAD but Statistics Canada has been offering more real-time estimates of data so look out for a headline about August.
That report is due at the bottom of the hour along with US current account numbers, Canadian house prices from Teranet and Canadian wholesale trade sales. Don’t expect a market reaction on any of them.
But do expect a market reaction to the September UMich consumer sentiment survey. These numbers have been stubbornly stuck to the pandemic lows and economists only see a small improvement to 75.0 from 74.1.
In terms of Fed talk we get Bullard (1400 GMT), Bostic (1600 GMT) and Kashkari (1900 GMT).