Canada January mftg sales data now out 16 March

  • -0.1% prev revised up from -0.3%

Softer headline more than tempered by better revision.

  • Declines in the motor vehicles, the aerospace product and parts, as well as the primary metal industries were responsible for the overall drop.
  • Overall, sales were down in 14 of 21 industries, representing 56% of the Canadian manufacturing sector.
  • Sales of durable goods declined 3.5% to $28.2 billion, while sales of non-durable goods increased 1.7% to $26.8 billion.
  • In constant dollars, manufacturing sales in volume terms declined 1.1%.

USDCAD 1.3070 extending the retreat from 1.3096 after failing to breach the 1.3100 offers/res that I highlighted earlier.

The Manufacturing Shipment released by Statistics Canada examines overall shipments from Canada. It can be seen as expected market demand. Generally speaking, a growing number of goods including unsold inventories indicates a fall in the market demand,which anticipates bearish tones for the CAD.

Full report here

Also out:

  • Jan intl securities transactions CAD 5.68bln vs -1.97bln prev

Foreign investors resuming their investment in Canadian securities by adding $5.7 billion to their holdings in January. Canadian investors added $1.6 billion of foreign debt securities to their holdings in January. Canadians resumed their acquisitions of US Treasury bonds by adding $3.0 billion to their portfolio, the largest investment since November 2015.

Says Stats Cad:

  • Meanwhile, Canadian investment in foreign securities totalled $13.3 billion, a second consecutive month of strong acquisitions. As a result, Canada's international transactions in securities generated a net outflow of funds of $7.6 billion from the Canadian economy in the month.

The Canadian investment in foreign securities released by Statistics Canada shows the movements of outcoming investments (money market, stocks and bonds) from Canada. It also indicates the climate of Canadian investors into foreign securities

Full report here