Eric Lascelles
Eric Lascelles
came confidence flip michigan price producer university weak
We did have a weak University of Michigan confidence index ... but on the flip side, you had the producer price index, which came in a little strong.
auto few hesitant last mind quite sales shipments tend wildly
Keep in mind that auto shipments and sales tend to be quite volatile. They've been really going up and down pretty wildly over the last few months, and so I'd be hesitant to read too much into any one reading.
cautious expected hike intent looking rate vein
The intent of that, in my view, is to say they are very cautious about looking forward. A rate hike should not be expected in the same vein that one was expected for today.
arising bank canada certainly concerned continues pressures suggest
(The survey) certainly continues to suggest that the Bank of Canada need not be concerned about inflationary pressures arising from manufacturers.
grim largely line report
This report was largely in line with expectations. It was a grim report.
aware bank cumulative fully hikes impact six
This ... suggests that the bank is well aware that the six consecutive hikes ... have a cumulative impact that has not yet been fully felt.
bank beyond canada canadian closely continued employment huge increase interest labor number rates shows sit strength supports whether
There is huge strength in employment ? It shows continued strength in the labor market, which supports the Canadian dollar. The Bank of Canada may look closely at this number and sit up and think about whether they should increase interest rates further. There is probability they may go beyond 4 percent.
market report responding spots weak
There are some weak spots in the report and that's what the market is responding to.