CANADA
retail sales, which were down 5.8% YoY through January, edged up 0.2% in February (vs. expectations of a 0.3% fall after a 1.8% rise in January, which followed terrible results in each month of Q4), so YoY is now -5.1%; ex-autos, they came in up 0.6%, vs. the survey's expectation of +0.2%; the February increases were price-driven, as total sales were down in volume terms (by 0.3% MoM and -3.2% YoY), so that will continue to drag on real GDP
but the real news of the day in Canada will come at 10:30 when the MPR gets released, and we'll get to see if there's any more in the works in terms of Q.E. or C.E. than what was already revealed on Tuesday (the increase in excess settlement balances to $3B and the extension of the terms of the PRAs to 6mth and 12mths)
U.S.
initial and continuing jobless claims climbed almost exactly as expected to to 640k and 6.137M, respectively
RPX house price index will be released at 9
existing home sales retreated more than expected in March to 4.57M (from 4.71 in February, but still up from the January low of 4.49); single-family homes were down 2.8%, while multi-family units were down 4.1%; the declines were broad-based regionally; sales are down 7.1% from a year ago and 37% from the peak level; the months' supply of unsold homes increased slightly to 9.8
INTERNATIONAL
April European PMIs still in contractionary territory, but improving; French Manufacturing up to 40 from 36.5, Services up to 46.2 from 43.6; Germany's showed same trends, but at lower levels of 35 (up from 32.4) and 43.5 (from 42.3), respectively; for total Eurozone, Manufacturing was up to 36.7 from 33.9, while Services was up to 43.1 from 40.9
European industrial new orders in February also did better than expected at a MoM level (down just 0.6%, with January's result revised to a better than previously estimated -2%), but the YoY rate deteriorated nonetheless, now down 34.5% vs. 34.3% last month
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