Canadian Manufacturing Sales Fizzles | German ZEW Economic Sentiment Surges
Published September 17, 2019
According to data released by Statistics Canada on Tuesday, manufacturing sales in Canada contracted by 1.3 percent to $57.2 billion in July and missed the market expectation for a decline of 0.3 percent. The Canadian dollar was trading lower, at 1.3265, after the release.
German economic sentiment saw a sharp improvement in September after a slump in August, according to the survey data released. Overall, the German ZEW headline numbers rose to -22.5 in September, up from -44.1, beating expectations of -38.
The Federal Open Market Committee is widely expected to lower rates by a quarter percentage point at a two-day meeting that begins in Washington on Tuesday. Fed-watchers will be closely monitoring what Federal Reserve Chairman Jerome Powell has to say at his press conference on Wednesday about further easing.