Canada’s New Housing Price Index declined 0.1% in January MoM versus the previous flat print of 0.0%.
The YoY figure fell 0.7%, less than the previous print of -0.9%.
The FOMC’s latest meeting Minutes will draw plenty of scrutiny as money markets size up a June rate cut from the Fed.
[FOMC Preview]
Meanwhile, Richmond Fed President Thomas Barkin hit newswires, noting that while the US is on the “back end” of its inflation problem, there’s still further to go.
Barkin also noted that much of the current declines in inflation have been centered around goods, with services prices remaining problematic for the Fed’s inflation targets.
[Fed’s Barkin]
Canada’s Retail Sales due on Thursday are expected to rebound with December’s MoM Retail Sales forecast to print at 0.8% versus the previous print of -0.2%.
The US’ S&P Global Manufacturing PMI for February, also slated for Thursday, is expected to tick down to 50.5 from 50.7.
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