Canada manufacturing sales
- Prior month -0.9%. Last month revised to -0.6%
- manufacturing sales -2.0% vs. -1.8% estimate.
- Manufacturing sales ex auto -2% vs. -1.1% last month (revised from -1.5%)
- The decline is the 4th consecutive monthly decline
- There were lower sales and 17 of 21 industries led by petroleum and coal -3.9%, chemicals -4.5%, primary metals -3.2% and paper -5.7%.
- beverage and tobacco beverage and tobacco gain 5.5%. Food increase by 0.6%
- manufacturing sales client and 7 provinces led by Québec
- wholesale trade +1.4% vs. 0.8% estimate. Last month -0.6%
- wholesale inventories +1.5% vs. +1.2% last month (unrevised
- factory new orders +0.6% vs. July -5.4% (revised from -5.3%)
The USDCAD is trading back above its 100 hour moving average at 1.3787. But remains below key swing area resistance at 1.3375 1.38548. Moves above those levels will be needed to increase the bullish bias. Conversely, a move back below the 100 hour moving average with momentum would put the pair back within the confines of the 100 and 200 hour moving average. The 200 hour moving average below is at 1.37196. The price tried to move below that level in early trading today, but could not sustain downside momentum.
USDCAD is trading above its 100 hour moving average
/ Inflation
