Canada's Ivey Purchasing Managers Index rose sharply to 60.10 in January, rebounding from upwardly revised 49.3 (33.4) in the previous month, beating analysts' estimates of 42.3.
Firms expanded their workforce at a faster pace (60.5 vs. 59.5 in December) while there was a reduction in inventories (52.7 vs. 53.9). At the same time, the rate of inflation eased (63.6 from 67.5) while supplier deliveries were slower than the previous month (52.3 from 49.1).
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Create account Try a demo Download mobile app Download mobile appOne need to keep in mind that this highly volatile low-tier manufacturing survey, which should not be used as a standalone indicator.
Manufacturing sector rebounded sharply in January. Source: https://iveypmi.uwo.ca/
USDCAD broke above resistance level at 1.3450 after release of today's PMI data. Source:xStation5
