Loading page content
Data from FMP. Forecasts by Sigmanomics Forecast Engine.
CanadaCanada Raw Materials Price Index MoM climbed to 4.2% in August 2013
FMPMonthlyReleased August 2013
Canada Raw Materials Price Index MoM climbed to 4.2% in August 2013, up 3.9% from July's 0.3% reading. The print exceeded the 1.2% consensus by 3.0%. The print is running well above the 12-month average of -1.95%.
Latest Release
4.2
Actual
1.2
Consensus
0.3
Previous
Median Absolute Error
±2.7 percentage points
across last 3 releases
Last Call
Aug 2013
Predicted: 1.2
Actual: 4.2
Error: -3
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/CAD | ▼ Inverse | −0.50 | FOREX | Bullish CAD | → View |
| CAD/JPY | ▲ Direct | +0.45 | FOREX | Bullish CAD | → View |
| WTI Crude | ▲ Direct | +0.40 | COMMODITIES | Watch | → View |
| EUR/CAD | ▼ Inverse | −0.35 | FOREX | Bullish CAD | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Raw Materials Price Index MoM (Canada) was reported at 4.2% in August 2013. This beat the market consensus of 1.2% by 3%. The reading rose from the previous value of 0.3%.
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 Current Account (May 28) and Financial Stability Report (May 28).
Auto-generated from current model state · Refreshes on each release · Last update August 2013.
SHARE
Raw Materials Price Index MoM - CA
Loading chart data...
About Raw Materials Price Index MoM — Canada
DEFINITION
The Raw Materials Price Index MoM is a key financial indicator that measures the month-over-month change in the prices of raw materials used in the production of goods and services. This index provides valuable insights into the overall cost of production and can impact the profitability of businesses across various industries. It is closely monitored by investors, analysts, and policymakers as it reflects the current state of the economy and can help inform decision-making processes.
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 (Aug 2013): actual 4.2 %, consensus 1.2 %. Prior reading (May 2013): -2.2 %. Before that (Apr 2013): -1.7 %.
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.