Canada July industrial product price -1.5% vs -0.7% expected
July PPI data from Canada
– Prior was -1.0%
– Raw materials price index -0.6% vs -0.3% expected
– Prior raw materials index -3.7%
I suspect these downside surprises are because of the stronger Canadian dollar. That’s a sign for the Bank of Canada that stronger CAD has done most of their work for them.