Canada: Manufacturing Sales decline by 2.1% in April vs. -1% expected

• Manufacturing Sales in Canada fell more than expected in April.
• USD/CAD continues to fluctuate in daily range above 1.2150 after the data.

Manufacturing Sales in Canada declined by 2.1% on a monthly basis in April, the data published by Statistics Canada revealed on Monday. This reading came in worse than the market expectation for a decrease of 1%.

Further details of the report revealed that Manufacturing Sales Ex-Autos rose by 1.1% while New Orders fell by 2.5%. Finally, Unfilled Orders was virtually unchanged and the Inventory-to-Sales Ratio was 1.56.

Market reaction

The USD/CAD pair showed no immediate reaction and was last seen trading flat on the day at 1.2160.