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Canadian Manufacturing Sales: Underlying trends still look respectable - RBC CM

Data released today showed that  manufacturing sales rose 0.2% in September in Canada. Nathan Janzen, Senior Economist at RBC Capital Markets points out that looking through monthly volatility, underlying trends still look respectable with tear-over-year manufacturing sales up 1.9% and volumes 2.4%.

Key Quotes: 
 
“Manufacturing sales inched up 0.2% in September. Controlling for an increase in prices, sale volumes ticked 0.1% lower after a 0.4% drop in August. Together, those declines still only partially retraced a 1.1% increase in July, though. Motor vehicle sales bounced back 4.8% in September after a 7.1% drop in August as atypical production shutdowns eased. A 6.3% drop in machinery sale volumes was the main source of offset.”

“Given earlier strength, underlying trends still look respectable. Sale volumes were still up 5.5% at an annualized rate in Q3 from Q2 and are still up 2.4% year-to-date relative to year-ago levels. Business surveys continue to suggest that capacity constraints and labour shortages are growing headwinds and a pullback in oil prices in recent weeks has raised some concern about some potential retrenchment in the energy sector.  At the same time, a stronger Canadian economy and much improved U.S. industrial sector still seem to be supporting demand growth.”

EUR/USD Technical Analysis: Mission Accomplished as Euro hits 1.1400 figure - There might be more fuel in the bulls tank to 1.1450 level

EUR/USD 4-hour chart EUR/USD is trading in a bear trend below the 200-period simple moving average.  EUR/USD hit the 1.1400 target as the market r
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US Industrial Production: Key manufacturing category extended its streak - Wells Fargo

October industrial production came in a little soft, up just a tenth of a percent and details show utilities output slowed 0.5% and mining slipped 0.3
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