Canadian Retail Sales in Focus | UK Manufacturing PMI Surges
Published January 24, 2020
This morning, the Canadian dollar strengthened against the greenback and was trading at 1.3134. Today, the market will be closely eyeing the Canadian Retail Sales Report which is scheduled to release at 8:30 EST. Overall, the retail sales figure is expected to improve by 0.5 percent in November.
The preliminary report from IHS Markit showed this Friday that the UK Manufacturing Sector activity rebounded sharply in January. The Manufacturing PMI jumped to a nine-month high of 49.8 in January versus the market expectation of 48.8, while the services sector showed particularly strong growth, increasing to a sixteen-month high of 52.9 against the market consensus of 51.1.
European Central Bank President Christine Lagarde warned investors not to assume that current monetary policy is locked in for the foreseeable future. Lagarde further said that it is ridiculous to believe the European central bank’s policy is on auto-pilot and that it won’t change until a year-long review of the ECB’s strategy is completed.