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Forex News: Canada Manufacturing Shipments come in weaker than expected

Posted by Greg Michalowski on Thu, 05/15/2008 - 8:45am in

Canada Manufacturing Shipments

Release comes in at -1.6. This is much lower than expected. The decline was led by auto industry as a result of a labor strike and weak US demand. The decline was helped by the aerospace industry which increased by 17 percent last month.

This puts additional pressure on the BOC to cut rates and should weaken the CAD.