Canada manufacturing sales for July +0.1% vs. +1.0 estimate

The prior month sales data rose by +0.8%

The Canada Manufacturing sales for the for the month of July came in weaker than expected at +0.1% vs and average estimate of 1.0%.. The prior month showed a gains of 0.8%.

Inventories rose by 1.0% which was the highest since January

Ex Autos sales were unchanged on the month

New orders fell by 2.9% with unfilled orders declining by 0.1%.

The forecasted range was -0.8% to +2.4%.

The USDCAD has moved to new session highs as it is also being helped by a better than expected US CPI (+0.2% vs +0.1% for the headline and +0.3% vs +0.2% for ex food and energy). The USDCAD is trading above the high from yesterday and at the highest level since July 27 when it moved to 1.3151 (the pair traded as high as 1.32404 so far).