Analysts at TD Securities note that the Canadian retail sales for May are the lone data release heading into the weekend and will be a key economic release for the day.

• “TD looks for a 0.3% increase in line with the market consensus, as a pullback in motor vehicle sales weighs on a 0.6% increase in the ex-autos measure (market: 0.4%). After a 0.3% (sa) increase in consumer prices for May, this should leave real retail sales little changed on the month, consistent with some moderation in household consumption after a robust Q1.”