At 14:30 (GMT+2), Canada will release January Retail Sales data, which measures the volume of all goods sold by retailers based on a sample of retail store types and sizes. This is a key indicator of consumer spending and it has a significant impact on Gross Domestic Product (GDP). The rate is forecast to decline from 2.5% to 1.6% month-on-month, while the core rate is likely to adjust from 2.7% to 0.0%, putting pressure on the Canadian dollar.
