Wholesale Sales indicator is released by the Statistics Canada and it shows the change in the total values of sales at the wholesales level. It is a leading indicator of consumer spending because retailers generally order more goods from wholesalers when they expect consumer sales to increase.
It is a second tier indicator, hence low volatility levels are expected.
The most important things to take into consideration when looking at the Wholesale Sales indicator are:
- release date: monthly, about 50 days after the month ends;
- release time: 12:30 GMT, during the North American Trading session;
- actual > forecast = positive for currency;
- actual < forecast = negative for currency.