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Data from Statistics Canada. Forecasts by Sigmanomics Forecast Engine.
CanadaCanada Core Retail Sales MoM held to 0.4% in October 2013
Statistics CanadaMonthlyReleased October 2013
Canada Core Retail Sales MoM held to 0.4% in October 2013. The print exceeded the 0.2% consensus by 0.2%.
Latest Release
0.4
Actual
0.2
Consensus
Previous
Median Absolute Error
±0.2 percentage points
across last 3 releases
Last Call
Oct 2013
Predicted: 0.2
Actual: 0.4
Error: -0.2
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/CAD | ▼ Inverse | −0.50 | FOREX | Bullish CAD | → View |
| CAD/JPY | ▲ Direct | +0.45 | FOREX | Bullish CAD | → View |
| WTI Crude | ▲ Direct | +0.40 | COMMODITIES | Watch | → View |
| EUR/CAD | ▼ Inverse | −0.35 | FOREX | Bullish CAD | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Core Retail Sales MoM (Canada) was reported at 0.4% in October 2013. This beat the market consensus of 0.2% by 0.2%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/CAD (Bullish CAD). A secondary relationship exists with CAD/JPY, positively correlated (Bullish CAD).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include New Housing Price Index MoM (Jun 17) and Retail Sales MoM (Jun 19).
Auto-generated from current model state · Refreshes on each release · Last update October 2013.
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Core Retail Sales MoM - CA
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About Core Retail Sales MoM — Canada
DEFINITION
Core Retail Sales MoM (Month-over-Month) is a key economic indicator that measures the change in the total value of retail sales, excluding volatile categories such as automobiles and gasoline. This indicator provides valuable insights into consumer spending patterns and overall economic growth, making it a crucial tool for investors, policymakers, and businesses. A positive change in Core Retail Sales MoM indicates an increase in consumer spending, while a negative change suggests a decrease. This data is released monthly by the government and is closely monitored by financial experts to assess the health of the economy.
WHY THIS INDICATOR MATTERS
Consumer activity accounts for the majority of GDP in advanced economies, making spending data a key cyclical signal for retail and discretionary sectors. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Oct 2013): actual 0.4 %, consensus 0.2 %. Prior reading (Sep 2013): 1 %. Before that (May 2013): -0.2 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print. Current dynamics are the primary neutral force in the projection. This indicator correlates most strongly with USD/CAD (Bullish CAD, r=-0.50) — a useful reference for forex-focused traders.