Canada CAD

Canada Manufacturing Sales MoM Prel

Impact:
Low

Latest Release:

Date:
Surprise:
-0.9%
Actual:
-1.3%
Forecast: -0.4%
Previous/Revision:
-2.8%
Period: May

Next Release:

Date:
Forecast: 0.4%
Period: Jun
What Does It Measure?
The Canada Manufacturing Sales MoM (Month-over-Month) Preliminary report measures the change in the total sales of manufactured goods in Canada, providing insight into production levels, inventory trends, and the overall health of the manufacturing sector. This indicator primarily focuses on the production component of the economy and is crucial for assessing employment levels and inflationary pressures within industrial activity.
Frequency
This report is released monthly and provides preliminary estimates typically published around the 15th of the month following the reporting period.
Why Do Traders Care?
Traders monitor the Canada Manufacturing Sales report due to its implications for economic activity and market sentiment, as strong manufacturing sales often lead to bullish expectations for the Canadian dollar (CAD) and related equities. A higher-than-expected outcome may prompt positive movements in the CAD against other currencies and supportive trends in stock prices, while weaker results could have the opposite effect.
What Is It Derived From?
The data for the Manufacturing Sales report is derived from a survey of manufacturers across Canada, capturing responses on sales figures and production volumes. Calculated through established methodologies, the report employs a diffusion index approach to gauge overall activity in the manufacturing sector.
Description
The preliminary report reflects early estimates based on data from surveyed manufacturers, providing a timely overview of new orders, sales, and inventories. This preliminary data can be volatile and is subject to revision, hence traders often focus on its immediate implications for market positioning while awaiting the final figures.
Additional Notes
As a coincident economic indicator, the Manufacturing Sales report is closely watched alongside other metrics such as GDP growth and employment figures to gauge economic performance. It plays a role in understanding broader economic trends, particularly in relation to export demand and industrial production levels.
Bullish or Bearish for Currency and Stocks
Higher than expected: Bullish for CAD, Bullish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number Better than forecast for the currency (or previous revise better)
Red Number Worse than forecast for the currency (or previous revise better)
Hawkish Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish Favors lower rates to boost growth, weakening the currency but lifting stocks.
Date Time Actual Forecast Previous Surprise
-1.3%
-0.4%
-2.8%
-0.9%
-2%
0.2%
-1.4%
-2.2%
-1.9%
0%
0.2%
-1.9%
-0.2%
-0.3%
1.7%
0.1%
2%
0.2%
0.3%
1.8%
0.6%
0.3%
0.8%
0.3%
0.5%
0.3%
2.1%
0.2%
1.3%
-0.8%
-0.5%
2.1%
-0.8%
0.4%
-1.3%
-1.2%
-1.5%
0.8%
1.4%
-2.3%
1.1%
-2.1%
-2.6%
0.6%
0.4%
-3.2%
0.2%
0.7%
1.1%
-0.5%
1.2%
0.4%
-2.1%
0.8%
-2.8%
0.1%
0.7%
-2.9%
0.7%
0.3%
0.2%
0.4%
0.4%
0.3%
-0.7%
0.1%
-0.6%
0.4%
1.2%
-1%
1.2%
-2.8%
-2.7%
-0.1%
0.4%
-2.6%
-0.1%
0.7%
0.7%
-0.8%
1%
0.7%
1.6%
0.3%
0.7%
-2.1%
-1.7%
2.8%
-2.1%
-0.3%
1.2%
-1.8%
0.8%
0.1%
0.3%
0.7%
-0.2%
0.7%
0.7%
-0.9%
0.7%
-0.3%
-3.6%
1%
-2.8%
-0.6%
4.1%
-2.2%
3.9%
-0.2%
-1.5%
4.1%
-1.8%
-0.9%
0%
-0.9%
2%
0.2%
0%
1.8%
-0.5%
-1.1%
-2%
0.6%
-1.8%
-0.2%
-0.9%
-1.6%
-0.9%
-0.4%
-0.8%
-0.5%
-1%
-2%
-2.5%
2.8%
1.7%
-5.3%
1.6%
1.1%
2.5%
0.5%
1.7%
3.1%
4.2%
-1.4%
3.7%
1%
0.6%
2.7%
1.3%
0.2%
0.7%
1.1%
0.8%
0.2%
2.6%
0.6%
3.1%
4.3%
4.1%
0.2%
-3%
3.9%
-3.2%
0.3%
0.5%
-3.5%
0.5%
-1.5%
-1.2%
2.1%
1%
1.4%
-2.1%
-0.4%
-1.1%
1.1%
3.5%
-2.2%
3.5%
-1.6%
-1%
3.1%
0.6%
-0.6%