Brace for weak US industrial production data – TDS

FXStreet (Delhi) – Research Team at TDS, expect the US industrial production data will see a downside risk to the consensus expectation for a 0.2% m/m decline as regional and aggregate manufacturing PMIs have slipped.

Key Quotes

“A much weaker print in the IP may reinforce concerns that the US economy is losing momentum and weigh on the USD. As such, we would are concerned of a snapback in USDCAD following the Canadian manufacturing numbers (if our forecast for a much weaker print is realized).”