Canadian November manufacturing sales numbers

  • Prior was -0.4% (revised to -0.6%)
  • Sales ex-autos +1.9% vs +0.3% prior
  • New orders -1.8% vs +5.2% prior
  • Unfilled orders -0.9% vs +2.4% prior
  • Inventories +0.9% vs +1.6% prior
  • Inventory-to-sales ratio 1.36 vs 1.40

That's back-to-back strong months for the Canadian manufacturing sector but the dip in new orders is a small concern. Overall, this isn't usually a market-moving indicator and that's how it's playing out today with USD/CAD unmoved at 1.2440.