uk retail sales may data leads Friday’s calendar, with Canada set to release its own retail sales figures later in the day. Meanwhile, U.S. markets are closed for the Juneteenth holiday. As a result, trading conditions may stay thinner than usual.
The UK report is expected to show retail sales rose 0.5% in May. That compares with a 1.3% drop in the prior month. Retail sales excluding fuel are seen up 0.4%, after a 0.4% decline previously.
UK Retail Sales May Expectations
The source article said the UK release often moves markets at first. However, it added that the data rarely shifts the broader view because the series is volatile. As a result, any early market reaction may fade.
Later in the American session, Canada will publish its retail sales report for April. Economists expect a 0.6% monthly increase, compared with a 0.9% gain in the prior month. Retail sales excluding autos are seen rising 0.7%, after a 1.4% increase previously.
Canada Data and Juneteenth Closure
The source article made a similar point about the Canadian release. It said the report can move markets, although the reaction may stay limited unless the figures differ sharply from forecasts. Therefore, traders may focus more on any large surprise in the data.
The article also noted that the United States is observing Juneteenth. Because of the holiday, the U.S. stock market and bond market are closed. Trading will resume on Monday.
Meanwhile, futures markets often halt or close early on the holiday. The source article said they frequently shut at 12:00 p.m. ET.
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