U.S. Existing Home Sales Preview U.S. Existing Home Sales Preview: December existing home sales data should reveal a 11.3% headline increase to a 5.300 M (median 5.120 M) pace following the 10.5% drop to 4.760 M in November. The November release was partly depressed by new regulation going into effect that delayed some sales into December. Other available measures of housing data weakened in December with the NAHB declining to 60 and housing starts falling to 1.149 M from 1.179 M.
Canada Retail Sales Preview Canada Retail Sales Preview:Sales are expected to improve 0.1% in November (median +0.2%) following the 0.1% gain in October. The ex-autos sales aggregate is expected to gain 0.3% m/m in November (median same at +0.3%) after the flat reading in October. Gasoline prices were nearly steady in November, contrasting with the larger drops seen from August to October in the CPI. Hence, analysts should not see a drag from gas station sales on total and ex-autos sales during November. Vehicle sales were firm through November, which should be supportive of total sales in November.