Canada: Manufacturing Sales fell 0.2% in January vs. -0.5% expected
|- Manufacturing Sales in Canada declined less than expected in January.
- USD/CAD continues to trade above 1.41 after data.
Manufacturing Sales in Canada contracted by 0.2% in January to $56.1 billion, Statistics Canada reported on Tuesday. This reading marked the fifth straight monthly decline and came in slightly better than the market expectation for a fall of 0.5%.
"In volumes terms, manufacturing sales decreased 0.4%," Statistics Canada further noted in its publication.
USD/CAD reaction
The USD/CAD pair edged lower on this data but continues to trade at its highest level since January of 2016 at 1.4115, adding 0.7% on the day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.