Canada Wholesale Sales MoM Flash

Info

History

Chart

Impact:

Low

Source: Statistics Canada

Latest Release:

Date:

Actual:

-0.4%

Forecast:

Previous/Revision:

Period: Feb

What Does It Measure?

The Canada Wholesale Sales MoM Flash measures the month-over-month change in the total value of wholesale sales by Canadian businesses. It primarily focuses on the wholesale sector's production and inventory levels, assessing consumer demand and overall economic activity.

Frequency

This report is released monthly and represents a preliminary estimate of wholesale sales due to its early data collection methodology, typically published around the first week of the following month.

Why Do Traders Care?

Traders closely monitor the Wholesale Sales MoM Flash as it provides insights into the health of the Canadian economy and consumer spending patterns, influencing expectations for GDP growth. A stronger-than-expected report can positively affect the CAD and equity markets, while disappointing figures may lead to bearish sentiment.

What Is It Derived From?

The indicator is derived from surveys conducted with wholesalers across Canada, focusing on their sales data for the month. This typically involves a sample size that captures a broad representation of the wholesale industry, employing statistical methods to produce a diffusion index reflecting sales momentum.

Description

The Canada Wholesale Sales MoM Flash report provides a snapshot of the wholesale sector's performance, offering a timely insight into the overall economic health. Given that it is based on preliminary data, it serves as an indicator of potential trends to watch in the more comprehensive official wholesale sales data released subsequently.

Additional Notes

This indicator acts as a leading economic measure, often reflecting future consumer spending trends and business inventory adjustments. Its effects can offer insights into broader economic conditions and may correlate with other metrics such as retail sales and manufacturing data.

Bullish or Bearish for Currency and Stocks

Higher than expected: Bullish for CAD, Bullish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Actual	Previous
Mar 22, 2021	-0.4%	4%
Jan 22, 2021	-1.7%	0.7%
Dec 21, 2020	1%	1%