- The Canadian Manufacturing PMI rose slightly to 56.6 in February.
- The Canadian dollar did not react and right now is more focused on rising crude oil prices.
The Canadian Manufacturing PMI increased slightly to 56.6 in February, indicating continued strong growth in the manufacturing sector. That marked a slight gain from January’s 56.2 reading and was modestly above the 56.4 expectation. “Growth was supported by faster output expansion, following strong increases in headcount and supportive domestic demand conditions,” economist IHS Markit said in a statement. “For now,” they continued, “businesses in Canada are dealing with external pressures, but issues related to rising costs and supply are likely to persist throughout the year.”
market reaction
the canadian dollar He did not react to the latest data, focusing much more on rising crude prices as fears about supply disruptions from Russia grow.
Source: Fx Street
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