CAD: Weak manufacturing sales number in the pipeline – TDS

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Delhi) – Ned Rumpeltin, European Head of Currency Strategy at TD Securities, suggests that the Canadian manufacturing sales for August will be the clear highlight.

    Key Quotes

    “We are looking for a fairly weak print at -2.8% m/m as softer commodity prices will weigh on sales from the extraction sector while we also expect to see auto production decline on a seasonally adjusted basis.”

    “Our forecast is relatively pessimistic, but the consensus forecast still implies a material decline at -1.0% m/m. We caution that price-effects will weigh on the headline figures, and that manufacturing volumes should not be quite as weak.”
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