Canadian Dollar: Manufacturing sales drag from energy – TD Securities
TD Securities strategists forecast Canadian Manufacturing Sales to fall 0.4% month-on-month in June, weaker than the market’s -0.1% call, mainly due to lower petroleum prices.
TD Securities analysts predict Canadian Manufacturing Sales to decrease by 0.4% month-over-month in June, which is a more significant drop than the market's forecast of -0.1%. The main reason behind this decline is the lower petroleum prices. However, they expect motor vehicles, metals, and other durable goods to partially compensate for the energy sector's weakness.
Although these sectors are expected to perform somewhat better compared to the overall manufacturing sector, their impact on the Canadian Gross Domestic Product (GDP) will be limited.
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