- Manufacturing sales in Canada increased modestly in August.
- USD / CAD is trading in negative territory below 1.2400.
Manufacturing sales in Canada rose 0.5% on a monthly basis in August to C $ 60.3 billion, data released by Statistics Canada on Thursday revealed. This reading followed the July 1.2% drop and was in line with market expectations.
“Sales in constant dollars increased 0.6% in August, indicating that the monthly gain was entirely due to higher sales volume,” the publication read. “The Industrial Products Price Index decreased 0.3% month-on-month, while the Commodity Price Index decreased 2.4%, the first drop since September 2020.”
Market reaction
The pair USD / CAD remains on the defensive after this report and was last seen shedding 0.45% on the day at 1.2386.
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