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Analysts at TDS offer details on the key macro data due on the cards from Canada later on Friday at 1230 GMT.

Key Quotes:

“We expect  CPI  to rise to 2.6% on account of higher gasoline prices. Elsewhere we expect subdued gains with continued mixed performance across categories. Moreover, we look for the gap between exclusion-based core indexes (CPIX and CPIXFE) and BoC core measures to close further, with the latter stabilizing at 2.0% and the former moving marginally higher.  

Retail sales  should edge 0.2% lower on weak auto sales and inclement weather. A sharp rise in gasoline prices will support sales at the pump but should prove insufficient to offset declines elsewhere. Real retail sales should in at or slightly below the nominal print but the 0.9% handoff from March will help to anchor Q2 spending.”