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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
CanadaCanada Raw Materials Price Index YoY climbed to 7.6% in August 2013
FMPMonthlyReleased August 2013
Canada Raw Materials Price Index YoY climbed to 7.6% in August 2013, up 3.6% from July's 4.0% reading. The print exceeded the 5.0% consensus by 2.6%. The print is running well above the 12-month average of -2.0%.
Latest Release
7.6
Actual
5
Consensus
4
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 | 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 YoY (Canada) was reported at 7.6% in August 2013. This beat the market consensus of 5% by 2.6%. The reading rose from the previous value of 4%.
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 New Housing Price Index MoM (Jun 17) and Retail Sales MoM (Jun 19).
Auto-generated from current model state · Refreshes on each release · Last update August 2013.
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Raw Materials Price Index YoY - CA
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About Raw Materials Price Index YoY — Canada
DEFINITION
The Raw Materials Price Index YoY is a financial indicator that measures the year-over-year change in the prices of raw materials used in the production of goods and services. It provides valuable insight into the overall cost of production for businesses and can impact inflation and consumer prices. This indicator is closely monitored by investors, economists, and policymakers as it reflects the health of the economy and can influence market trends.
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 7.6 %, consensus 5 %. Prior reading (Apr 2013): -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.