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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
CanadaCanada Manufacturing Shipments MoM climbed to 2.6% in April 2013
FMPMonthlyReleased April 2013
Canada Manufacturing Shipments MoM climbed to 2.6% in April 2013, up 2.1% from March's 0.5% reading. The print exceeded the 1.0% consensus by 1.6%. The print is running well above the 12-month average of -0.2%.
Latest Release
2.6
Actual
1
Consensus
0.5
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| USD/CAD | ▼ Inverse | −0.50 | FOREX | Moves against | → View |
| CAD/JPY | ▲ Direct | +0.45 | FOREX | Moves with | → View |
| WTI Crude | ▲ Direct | +0.40 | COMMODITIES | Moves with | → View |
| EUR/CAD | ▼ Inverse | −0.35 | FOREX | Moves against | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Manufacturing Shipments MoM (Canada) was reported at 2.6% in April 2013. This beat the market consensus of 1% by 1.6%. The reading rose from the previous value of 0.5%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/CAD (Bullish CAD). A secondary relationship exists with CAD/JPY, positively correlated (Bullish CAD).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Inflation Rate MoM (Sep 14) and Inflation Rate YoY (Sep 14).
Auto-generated from current model state · Refreshes on each release · Last update April 2013.
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Manufacturing Shipments MoM - CA
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About Manufacturing Shipments MoM — Canada
DEFINITION
Manufacturing Shipments MoM (Month-over-Month) is a key economic indicator that measures the change in the total value of goods shipped by the manufacturing sector within a specific country over a one-month period. This indicator provides valuable insights into the health and performance of the manufacturing industry, which is a crucial driver of economic growth. A positive change in Manufacturing Shipments MoM indicates an increase in production and consumer demand, while a negative change may signal a slowdown in the economy. As such, this indicator is closely monitored by investors, policymakers, and analysts to make informed decisions about the state of the economy.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Apr 2013): actual 2.6 %, consensus 1 %. Prior reading (Mar 2013): -0.2 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially lower reading versus the latest print. Current dynamics are the primary headwind in the projection. This indicator correlates most strongly with USD/CAD (Bullish CAD, r=-0.50) — a useful reference for forex-focused traders.
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EXPECTED ZONE
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