07:54 AM EDT, 06/13/2025 (MT Newswires) -- Canada will release Q1 capacity utilization at 8:30 a.m. ET on Friday, noted Bank of Montreal (BMO).

The bank expects Q1 capacity utilization to climb above 80% for the first time in two years.

Manufacturing sales and wholesale trade, both for April, are also due out at 8:30 a.m. ET on Friday, said BMO. They are both are expected to decline in April, stated the bank.

Meanwhile, April's new motor vehicle sales report will be interesting, added BMO. This is the month that auto tariffs kicked in and the bank is expecting a 10.5% year-over-year jump.

Heightened geopolitical risks have triggered a flight to safety early Friday, as Middle East tensions reach a boiling point, according to the bank. Israel's airstrikes on Iranian nuclear facilities sent oil prices soaring, gold higher and United States equity futures down.

Meanwhile, the 10-year U.S: Treasury yield edged up to 4.37%. The escalation in geopolitical risks comes at a time when tariff uncertainty was already creating major economic headwinds. A sustained jump in oil prices will threaten to stir inflationary pressures, pointed out BMO.