Canada: Markit Manufacturing PMI improves modestly to 54.8 in February from 54.4

  • Markit Manufacturing PMI in Canada edged higher in February.
  • USD/CAD trades in the negative territory near 1.2660.

The business activity in Canada’s manufacturing sector expanded at a stronger pace in February than it did in January with the IHS Markit Manufacturing PMI rising to 54.8 from 54.4. 

Commenting on the data, “latest PMI data highlights another solid improvement in the overall health and resilience of Canada’s manufacturing sector,” said Shreeya Patel, Economist at IHS Markit. “An improving domestic demand picture, greater purchasing activity and a sustained period of employment suggest firms expect greater output in the months ahead.” 

Market reaction

The USD/CAD pair inched slightly lower after this report and was last seen losing 0.6% on the day at 1.2663.

Get the 5 most predictable currency pairs

About Author

Comments are closed.