- Markit’s Canadian Manufacturing PMI fell slightly in October.
- USD / CAD remains negative below the 1.3300 level.
Economic activity in Canada’s manufacturing sector continued expanding at a robust pace in October, with the IHS Markit Manufacturing PMI reaching 55.5 points. However, this figure has fallen short of market expectations of 55.6 and it has been lower than the reading of September 56.
Commenting on the data, “the October data suggests another improvement in the health of the Canadian manufacturing sector, as the PMI registered 55.5 points,” said Shreeya Patel, economist at IHS Markit. “New orders and production have risen significantly and companies remain optimistic that production will improve over the course of the year“.
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Credits: Forex Street
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