Tomorrow’s main events
On Wednesday, a moderate number of important data will be published. At 12:30 GMT, Canada will publish the retail sales data for April. The indicator characterizes the level of consumer spending and demand. In addition to the basic values the indicator is calculated excluding car sales, because their size is very variable. The indicator excluding cars provides objective information. It is expected that total sales rose 1.1% after contracting 1.0% in March.
Also at 12:30 GMT the United States will release the index of economic activity from the Federal Reserve Bank of Chicago. The index is calculated as a weighted average of 85 economic indicators. These figures relate to the following categories: production and income; employment, unemployment; private consumption and the housing market; sales, orders, inventory. The resulting index is a summary measure of the factors common to these economic data
At 14:00 GMT the United States will present a report on home sales in the secondary market in May. The indicator reflects the number of homes sold in the secondary market of the US real estate. It may give an idea about the optimism of consumers and their ability to buy expensive things. These data, because of the nature of real estate market, subject to seasonal fluctuations. This indicator is published in the annual sales pace adjusted for seasonality (seasonally adjusted sales for the month multiplied by 12). The forecasts show a rise to 5.5 million from 5.45 million in April.
At 14:30 GMT the US Department of Energy will report on changes in stocks of crude oil.