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TD Securities analysts are looking for Canada’s retail sales to rise by 0.6% in August (market: 0.5%) on further strength in motor vehicle sales, which were also the primary driver behind a 0.4% increase last month.

Key Quotes

“Ex-auto sales should see a muted 0.1% gain, with gasoline prices exerting a modest headwind, while volumes should outperform the nominal print on lower consumer goods prices.”

“At 10:30 we will get the Bank of Canada’s Business Outlook Survey which will serve as the final communication before the blackout period for the October 30th meeting begins at midnight. We do not expect the report to make a strong case for 2019 rate cuts, but would note that the survey period concluded in mid-September before the most recent US/China trade talks which should limit any positive implications for investment intentions.”