retail sales photo

A pair of top-tier economic indicators are coming up at the bottom of the hour with the US releasing retail sales and Canada releasing CPI. Both reports are for September.

For the US, the data on retail sales will be one of the first places where weakness shows up if a recession is coming. The consensus this month is for a flat reading on the all-important control group.

For Canada, the market continues to pricing in a hike next March, though it depends on the derivatives market you look at. A big factor in that will be inflation and today's inflation report will go a long way. The consensus is +0.1% m/m and +4.0% y/y.

Note that the BOC meets next week.

For more, see the economic calendar.