Canada: Ivey PMI (sa) improves to 60.1 in January vs. 55.2 expected

Canada Ivey PMI improved at a much stronger pace than expected in January.
USD/CAD continues to trade in positive territory near 1.3450.

Eren Sengezer FXStreet

The Ivey Purchasing Managers Index (PMI), an economic index which measures the month-to-month variation in economic activity in Canada, climbed to 60.1 (seasonally adjusted) in January from 33.4 in December. This reading came in better than the market expectation of 55.2.

Further details of the publication revealed that the Employment Index edged higher to 60.5 from 59.5 and the Prices Index declined to 63.6 from 67.5.

Market reaction

USD/CAD showed no immediate reaction to this report and was last seen trading at 1.3450, where it was up 0.4% on a daily basis.

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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