The ISM Manufacturing PMI for the US jumped to 56.1 in May from 55.4 in the previous month, and beat analysts’ expectations of 54.5.
- Prices paid 82.2 vs. 83.0 estimate. Last month 84.6
- Employment 49.6 vs. 50.9 last month
- New orders 55.1 vs. 53.5 last month
- Production 54.2 vs. 53.6 last month
Simultaneously to the release of US data,the Bank of Canada raised its benchmark interest rate by 50bps to pre-pandemic levels of 1.50 % as widely expected. No post-meeting press conference will be held.
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USDCAD initially currency pair fell after the release of today's data, however buyers manage to quickly regain control and price is heading towards local resistance at 1,2660.
