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CAD: Weak manufacturing sales number in the pipeline – TDS

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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