Canada CAD

Canada Wholesale Sales MoM

Impact:
Low

Latest Release:

Date:
Surprise:
-0.3%
Actual:
2.3%
Forecast: 2.6%
Previous/Revision:
0%
Period: Aug
What Does It Measure?
Wholesale Sales MoM in Canada measures the total sales of goods sold by wholesalers, capturing trends in wholesale distribution and reflecting the overall health of the economy. This indicator primarily focuses on production and inventory levels, assessing the volume of goods moving through the supply chain and providing insights into consumer demand, business activity, and potential inflationary pressures.
Frequency
The Wholesale Sales MoM report is released monthly, typically available around the 15th day of the following month, and it presents preliminary estimates that may be subject to revision.
Why Do Traders Care?
Traders monitor this indicator due to its implications for overall economic performance, as higher sales suggest increased business activity and potential growth, positively impacting asset prices including the Canadian dollar (CAD) and Canadian equities. Conversely, lower sales can signal a slowdown in demand, leading to bearish sentiment for currencies and stocks, while also providing vital insights for economic forecasting and monetary policy decisions.
What Is It Derived From?
This indicator is derived from data collected from a diverse range of wholesale establishments across Canada, utilizing a survey that encompasses various industries and goods. The calculation applies a diffusion index technique, weighing the sales figures to reflect average changes and trends, resulting in a comprehensive overview of the wholesale sector’s performance.
Description
The Wholesale Sales MoM data is available as preliminary and final reports; the preliminary version is based on early estimates that can be revised later, while the final report offers a more definitive assessment of sales figures. Traders often react more strongly to preliminary data due to its timely release, although finalized figures can adjust market sentiment as they provide clearer economic signals over the longer term.
Additional Notes
The Wholesale Sales MoM indicator is considered a coincident economic measure as it reflects current economic activity swiftly after reports are compiled. Moreover, it is relevant in analyzing broader trends, both regionally within Canada and in comparison to wholesale sales figures in other economies, which can further help assess shifts in global trade dynamics.
Bullish or Bearish for Currency and Stocks
Higher than expected: Bullish for CAD, Bullish for Stocks. Lower than expected: Bearish for CAD, Bearish 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 Time Actual Forecast Previous Surprise
2.3%
2.6%
0%
-0.3%
4%
5%
-1.3%
-1%
1%
0.9%
0.6%
0.1%
0.9%
0.4%
0.3%
0.5%
0.3%
0.3%
5.2%
4.3%
3.5%
18.8%
0.8%
18.5%
10%
5.8%
8.5%
5.7%
8.5%
-21.4%
-2.8%
-21.6%
-12.6%
-2.7%
-9%
-2.2%
-3.8%
0.7%
1.6%
0.7%
-0.5%
1.8%
1.2%
1.8%
-0.1%
1%
1.9%
0.9%
0.5%
-1.1%
0.4%
-1.2%
0%
-1.2%
-1.2%
-1.1%
-0.1%
0.8%
-1%
1%
0.4%
-1.2%
0.6%
-1.2%
0.3%
1.4%
-1.5%
1.7%
-0.1%
0.7%
1.8%
0.6%
0.3%
-1.9%
0.3%
-1.8%
0.5%
1.6%
-2.3%
1.7%
0.2%
1.4%
1.5%
1.4%
0.9%
0.2%
0.5%
0.3%
0.1%
0.4%
0.2%
0.6%
0.5%
0.3%
0.1%
0.3%
-0.1%
-1.1%
0.4%
-1%
0.1%
0.7%
-1.1%
1%
0.4%
-0.7%
0.6%
-0.5%
0.3%
-0.1%
-0.8%
-0.1%
0%
1.1%
-0.1%
1.5%
0.5%
-0.8%
1%
-0.8%
0.8%
0.9%
-1.6%
1.2%
0.6%
-0.1%
0.6%
0.1%
0.4%
1.4%
-0.3%
1.1%
0.6%
-0.4%
0.5%
-0.8%
0.5%
0.3%
-1.3%
0.1%
0.1%
-0.2%
-0.5%
0.4%
0.3%
-0.9%
0.7%
1%
1.6%
-0.3%
1.5%
0.5%
-1.1%
1%
-1.2%
0.6%
0.4%
-1.8%
0.5%
0.6%
1.7%
-0.1%
1.5%
-0.9%
-0.6%
2.4%
-0.5%
-0.4%
1%
-0.1%
0.9%
0.5%
0.8%
0.4%
1%
0.5%
1.2%
0.5%
0.9%
0.9%
0.3%
-0.2%
-1%
3%
0.8%
3.3%
0.5%
0.3%
2.8%
0.7%
0.4%
0.1%
0.3%
0.2%
0.5%
1.3%
-0.3%
1.1%
0.6%
-1.5%
0.5%
-1.2%
0.4%
0.8%
-1.6%
0.8%
0.6%
0.1%
0.2%
0.3%
0.2%
0.7%
0.1%
0.7%
0.5%
1.9%
0.2%
1.8%
0.2%
0.2%
1.6%
0.1%
0.5%
-0.8%
-0.4%
-1%
-0.5%
-2.2%
-0.5%
-2.2%
-0.3%
0.2%
-1.9%
0%
0.2%
1.8%
-0.2%
2%
0.2%
1.9%
1.8%
1.8%
0.5%
-0.5%
1.3%
-0.6%
0.1%
-0.3%
-0.7%
-0.1%
0.3%
-0.1%
-0.4%
-0.1%
0.2%
-0.1%
-0.3%
0%
1.3%
1.3%
1%
-0.9%
0.3%
-1%
0%
1.7%
-1%
1.9%
0.3%
1%
1.6%
0.8%
0.9%
-0.4%
-0.1%