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Canada: Manufacturing sales edged lower in February - RBC

Nathan Janzen, senior economist at the Royal Bank of Canada, notes that the Canada’s headline nominal sales slipped 0.2% lower after a 0.8% January increase.

Key Quotes

“The drop in volume sales in February left the measure down slightly (0.2%) from a year-ago – led by a pullback in the motor vehicle sector.  Still, bad weather may be partly to blame.  A record number of work hours were lost due to weather in February.”

“Headline GDP growth is still likely to be soft in Q1 at around 1% but also still in part due to transitory disruptions to oil production and bad weather effects, both of which should reverse going forward.”

US: Industrial production declined by 0.1% in March vs +0.1% expected

"Industrial production edged down 0.1 percent in March after edging up 0.1 percent in February; for the first quarter as a whole, the index slipped 0.
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USD/CAD stays in positive territory as red flags on Canadian economy mount

The USD/CAD pair is struggling to take advantage of the upbeat market sentiment on Tuesday as the latest data from Canada remind investors of the slow
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