- Business actvitiy in Canadian manufacturing sectpr expanded in October.
- The USD/CAD pair continues to trade a little below 1.32 after the data.
The IHS Markit’s Manufacturing PMI in Canada rose to 51.2 in October from 51 in September and came in slightly below the market expectation of 51.
The USD/CAD pair largely ignored this data and was last up 0.17% on the day at 1.3182.
“October’s survey data indicates a change of fortunes for the Canadian manufacturing sector, with output growth hitting an eight-month high in response to improving order books,” said Tim Moore, Economics Associate Director at the IHS Markit. “Rising domestic demand has underpinned the gradual recovery in new work since the summer, but export sales remain relatively sluggish against a backdrop of weaker global trade conditions.”
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