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fxJul 23, 2026, 11:06 AM

Canadian Retail Sales Seen Beating Consensus in May: TD Securities

TD Securities forecasts Canadian retail sales to rise 1.1% month-on-month in May, slightly above the 1.0% consensus, driven by higher gasoline prices and a rebound in core sales.

USDCAD

TD Securities strategists expect Canadian retail sales to increase 1.1% month-over-month in May, edging above the 1.0% consensus estimate. The forecast points to a boost from elevated gasoline prices and a recovery in core retail categories.

The data release could provide near-term direction for USD/CAD, as a stronger-than-anticipated print may reinforce expectations of resilient consumer spending. Markets will watch for actual figures to confirm the trend.

Source: FXStreet Forex News