The Monthly Wholesale Sales are an estimates of monthly sales for wholesale merchants in Canada. This is an important indicator of the health of the Canadian economy and an increasing figure will result in a stronger CAD, while weak numbers will result in a softer currency.
The Wholesale Sales rose by 1.7% in April 2019, following a 1.4% growth in March and a fifth consecutive monthly increase.
The market expects a 0.5% growth in the month of May. This will be a 6th increase in a row and will expect the CAD to be stronger. Bearish reaction expected.