Canada: Ivey PMI improves modestly to 48.4 in January
|- Ivey PMI in Canada edged slightly higher in January.
- USD/CAD continues to trade in the negative territory below 1.2800.
The economic activity in Canada's private sector contracted at a softer pace in January than it did in December with the Ivey Purchasing Managers Index (seasonally adjusted) rising to 48.4 from 46.7.
Further details of the publication showed that the Employment Index dropped to 41.5 from 45.8, the Inventories Index rose to 56.7 from 43.8 and the Prices Index jumped to 82.8 from 66.9.
Market reaction
The USD/CAD pair remains under bearish pressure following this report and was last seen losing 0.31% on a daily basis at 1.2785.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.