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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CANADA DATA
- Manufacturing sales are indicated to have declined a heavy -2.7% M/M in October (seasonally adjusted), the largest single month drop since February albeit after three solid monthly increases.
- We don’t get volumes with this release, although it adds to the weak nominal outturn for wholesale sales in yesterday’s October advance (-1.1% M/M for ‘core’).
- The manufacturing/wholesale reports point to a weaker backdrop than the aggregate retail data suggest, which are estimated to have increased a surprisingly strong 0.8% M/M vs some analysts looking for further weakness.
- Combined with hours worked flat in October for no bounce from the -0.2% in Sept, the early October indicators on balance paint weak picture ahead of next week's monthly GDP print including its October advance estimate. The September GDP advance had pencilled in a third consecutive 0.0% M/M.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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