Manufacturing sales in Canada fell -1.50% on a seasonally adjusted basis in September, following a -0.60% decline in August, according to data released by Statistics Canada. The declines came on low motor vehicle and energy sales. The fall marked one of the fastest declines in nearly seven months with a sharp drop in investments in the oil sector on account of low energy prices. Manufacturing outside the energy sector failed to make any steady gains despite the CAD depreciating strongly to the US Dollar. Canada's GDP especially in the third quarter remains questionable posting a modest growth of 0.10% in August. The Bank of Canada left rates unchanged while lifting its GDP forecasts from 1.50% to 2.50% for the second half of 2015. USDCAD touched a 6-week high at 1.3370 yesterday.
IMF Recommends Yuan Inclusion in SDR
Daily Analysis - 17/11/2015