Wednesday's release from the Statistics Canada boosted the appreciation of the Canadian Dollar. Analysts expected Canada's manufacturing sales to show a monthly increase of 0.9% in May, which would determine the strength of future investment, hiring and spending. The data pleased analysts' expectations, coming in at a better-than-expected 1.1% pace, pointing to the healthy activity during the Q2. As it can be seen on the chart, the USD/CAD exchange rate moved to the upside only by five base points at the moment the data release was published. The report showed that the strong figures were mainly supported by expanding chemical manufacturing industries and an advance in transportation equipment. For the day, the USD/CAD fluctuated between the 1.25 and 1.26 marks, finishing at 1.2606. 3.940.
| Historical Data Table | |||||
| Date | 17.03.2017 | 13.04.2017 | 17.05.2017 | 15.06.2017 | 19.07.2017 |
| Actual | 0.60% | -0.20% | 1.00% | 1.10% | 1.10% |
| Forecast | 0.70% | -0.40% | 1.10% | 0.90% | 0.90% |
| Initial Reaction on Main Pairs | |||||
| Open Price | Close Price | % Change | |||
| AUD/CAD | 0.99998 | 0.99988 | -0.01% | ||
| CAD/CHF | 0.75625 | 0.75657 | 0.04% | ||
| EUR/CAD | 1.45328 | 1.45331 | 0.00% | ||
| USD/CAD | 1.26001 | 1.26013 | 0.01% | ||