CAD: Employment and business outlook survey in focus - TDS

Research Team at TDS, suggests that the Canada’s Q3 Business Outlook Survey will give an update of business conditions heading into the October MPR.

Key Quotes

“While unlikely to help shape the governing council’s decision in two weeks, the BOS will be a useful gauge of business sentiment while inflation expectations will receive attention given the Bank’s downside tilt to the inflation outlook.

Meanwhile, the September Labour Force Survey will take a backseat to nonfarm payrolls. Nonetheless, we look for job growth to slow to 5k on the heels of last month’s 26k print, though the unemployment rate should remain unchanged at 7.0%; the market looks for a slightly stronger print of 7.5k and 7.0%. Lastly, Ivey PMI is expected by the market to edge slightly higher from 52.3 to 53.1 for September.”