The Richard Ivey School of Business purchasing managers’ index came out at 58.6 points for the month of Septmber, significantly better than 53 points expected and 50.9 points last month. USD/CAD reacted with a drop below 1.12, extending the falls seen earlier. Among the report’s components, a big jump in the prices component shows that inflation is moving higher (71.6 points) and that the Bank of Canada may have to respond. Also employment looks good ahead of the jobs report on Friday: 53 points instead of 49.5 last month. The component turned positive: from minor contraction to some growth. The pair was already moving lower on weakness in the US dollar. The greenback gave up some of its gains made after the excellent Non-Farm Payrolls on Friday. Then, USD/CAD jumped as high as 1.1270, just a few pips from the multi-year high seen earlier in the year. The falling prices of oil threatened to push the Canadian dollar even lower, but the aforementioned USD correction saved the loonie from making the big break. For more, see the CAD forecast. Here is how this turnaround looks on the chart: Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next EUR/JPY: Bearish, Vulnerable FX Tech Strategy 9 years The Richard Ivey School of Business purchasing managers' index came out at 58.6 points for the month of Septmber, significantly better than 53 points expected and 50.9 points last month. USD/CAD reacted with a drop below 1.12, extending the falls seen earlier. Among the report's components, a big jump in the prices component shows that inflation is moving higher (71.6 points) and that the Bank of Canada may have to respond. Also employment looks good ahead of the jobs report on Friday: 53 points instead of 49.5 last month. The component turned positive: from minor contraction to some growth. The… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
