The Canada’s manufacturing PMI is up 1.8 points in January, rising to 5one from 49.2 in December and exceeding the estimated 49.4. This is the first month of expansion for the indicator after five months in contraction territory, being its best result since July 2022.
According to the S&P Global statement, increases have been indicated both in production and in new orders. There has also been sustained employment growth. The negative point is that confidence falls to its lowest level since October 2022.
USD/CAD reaction
The USD/CAD It has barely changed after the data, moving just over 10 pips between the 1.3304/1.3316 zone. The pair remains in a low tone since yesterday’s sharp decline after hitting a 12-day high at 1.3471. At time of writing, the cross is trading around 1.3300, down a slight 0.04% daily.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
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