Canada: Markit Manufacturing PMI rises to 56 in September vs. 54.1 expected
|- Markit Manufacturing PMI in Canada rose more than expected in September.
- USD/CAD trades in the negative territory near 1.3300 after the data.
The economic activity in Canada's manufacturing sector expanded at a stronger pace in September than it did in August with the IHS Markit's Manufacturing PMI rising to 56 from 55.1. This reading beat the market expectation of 54.1.
Commenting on the report, "overall, the health of the Canadian manufacturing sector continued to strengthen in September, as has been the case throughout the third quarter," said Shreeya Patel, Economist at IHS Markit. "Conditions improved at the fastest pace in over two years, helped by a solid upturn in manufacturing sales at both domestic and foreign clients."
Market reaction
The USD/CAD pair edged slightly lower after this data and was last seen losing 0.16% on the day at 1.3298.
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.