USA Factory Orders

Description

Released on a monthly basis by the Us Census Bureau, factory orders capture the total value of new orders for manufactured goods, including durable and non-durable. The indicator includes data on inventories, shipments and new orders. The headline figure is expressed as a percentage change from the previous month.
Latest Release: 05-12-2014 15:00:00
Next Release: 04-11-2013 15:00:00
Source:US Census Bureau

The Canadian dollar advanced against its US counterpart Wednesday, as the Bank of Canada acknowledged the economy was growing as expected amid renewed optimism that a recently brokered ceasefire between Ukraine and Russia would hold.

The loonie, as the Canadian currency is called, rose 0.4 percent to 0.9185 US, picking up where it left off before the Labour Day weekend. The loonie broke 92 US cents last week following a high profile corporate merger between Burger King and Tim Hortons and strong Canadian GDP data.

In policy news, the Bank of Canada maintained its data-dependent, neutral bias on Wednesday, opting to hold its key interest rate at 1 percent.

The BOC said “stronger growth in the second quarter has brought GDP to almost exactly the level the Bank had projected in July’s [Monetary Policy Report].” The July report said Canadian GDP is forecast to grow 2.25 percent during the 2014-16 period, which would bring the economy back to full capacity.

Canada’s economy advanced 0.8 percent in the second quarter. Compared to year-ago levels, the economy accelerated 3.1 percent, official data revealed last week.

Today’s rate statement reaffirmed the view the BOC is unlikely to lower interest rates. Although no change to the interest rate target is expected any time soon,...

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