Canada: Manufacturing sales fell 1.8% to $53.9 billion in June

Eren Sengezer FXStreet

"Manufacturing sales fell 1.8% to $53.9 billion in June, following three consecutive monthly gains," the Statistics Canada announced today.

Key highlights:

The declines were mainly due to lower sales in the petroleum and coal product, transportation equipment, and chemical industries
ales were down in 15 of 21 industries, representing 72.1% of the manufacturing sector in Canada
Sales of non-durable goods declined 2.2%, while sales of durable goods were down 1.5%
Manufacturing inventories edged down 0.2% in June, for the second consecutive month
Unfilled orders fell 2.1% to $87.3 billion in June

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

EUR/USD stabilizes near 1.1800 as markets focus on geopolitics

EUR/USD stays defensive around 1.1800 in the second half of the day on Thursday. The US Dollar stabilizes, following the recent decline led by tariff uncertainty, capping the pair's upside. All eyes now remain on the US-Iran nuclear talks after ECB President Lagarde's testimony failed to impress Euro bulls.

GBP/USD holds above 1.3500, struggles to gain traction

GBP/USD rebound from session lows but stays below 1.3550 on Thursday. The cautious market stance helps the US Dollar stay resilient against its rivals and makes it difficult for the pair gather recovery momentum. Investors await headlines that will come out of the US-Iran nuclear talks.

Gold clings to small gains near $5,200 ahead of US-Iran talks

Gold trades marginally higher on the day above $5,150 on Thursday as investors refrain from taking large positions. The US and Iran will hold the next round of nuclear talks in Geneva on Thursday, outcome of which could have significant implications for risk perception.

Stellar: Relief bounce fades as bearish undertone persists

Stellar is trading around $0.16 at the time of writing on Thursday after rebounding more than 8% in the previous day. Derivatives data paints a negative picture as XLM’s short bets hit a monthly high while Open Interest continues to decline.

The one thing everyone is on the lookout for is US action of some sort against Iran

The FX market is minestrone soup these days. It is befuddled by conflicting data, rumors and small stories exaggerated out of proportion, and Trump-generated uncertainty.

Solana strikes key resistance with double-digit gains

Solana trades at $88 at press time on Thursday, after an 11% upswing the previous day within a broader consolidation range of roughly three weeks. Institutional demand for Solana heightens as US spot SOL Exchange Traded Funds record $30 million of inflow on Wednesday.