- Markit Manufacturing PMI for Canada recovered sharply in June.
- USD/CAD continues to trade below 1.3600 after the data.
The economic activity in Canada's manufacturing sector contracted at a much softer pace in June than it did in May with the Markit Manufacturing PMI climbing to 47.8 from 40.6.
Commenting on the data, "the latest Canada Manufacturing PMI highlights a vastly improved situation in comparison to that seen over the previous three months," said Tim Moore, Economics Director at the IHS Markit. "Despite another improvement in their expectations for production during the year ahead, manufacturers continued to report highly subdued underlying demand in June, alongside widespread concerns about the global economic outlook."
The USD/CAD pair largely ignored this data and was last seen trading flat on the day at 1.3585.
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.