At 14:30 (GMT+2), Canada will release February retail sales data – a measure that tracks the volume of all goods sold by retailers each month, based on a sample of stores of different types and sizes. It is an important indicator of consumer spending, which has a significant impact on gross domestic product (GDP). The indicator is expected to decline from 1.1% to 0.9% MoM, while the core reading is projected to stabilise at around 0.8%, acting as a driver of downside pressure on the Canadian dollar.
