BoC: Business Outlook Survey points to slight improvement in business sentiment

The Bank of Canada's Business Outlook Survey for the third quarter highlighted that there was a slight improvement in the business sentiment but noted regional differences were more pronounced.

The USD/CAD retreated slightly from its session highs with the initial reaction to the publication and was last seen trading near 1.3100, adding 0.15% on a daily basis. Below are some additional key takeaways, as reported by Reuters.

"Indicators of future sales are positive in most regions, especially Quebec, but soft in the prairies; foreign demand slightly positive but weighed down by trade tensions."

"Firms' expectations of US economic growth have weakened, some expect a small US recession over the next 12 months and anticipate sales to be directly or indirectly negatively affected."

"Plans to invest and hire more in next 12 months are healthy outside of energy-producing regions; firms in central Canada and British Columbia intend to expand workforces."