At 14:30 (GMT+2), Canada will release April 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). A correction is predicted from 0.8% to 0.5% on a monthly basis and from -0.7% to -0.2% on a core basis, which could act as a driver of the downward dynamics of the Canadian currency.
