Canada: Ivey PMI (sa) declines to 51.6 in February vs. 57.7 expected

Canada Ivey PMI fell sharply toward 50 in February.
USD/CAD stays in positive territory slightly above 1.2600 after the data.

Eren Sengezer FXStreet

The Ivey Purchasing Managers Index (PMI), an economic index which measures the month-to-month variation in economic activity in Canada, dropped sharply to 51.6 (seasonally adjusted) in February from 60.1 in January. This reading missed the market expectation of 57.7 by a wide margin.

Further details of the publication revealed that the Employment Index edged lower to 59.4 from 60.5 and the Prices Index rose to 65.3 from 63.6.

Market reaction

USD/CAD largely ignored these figures and the pair was last seen trading modestly higher on the day at 1.3615.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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