Canada IVEY rises more than expected but Employment component falls. $USDCAD falls then rises.
Canada Ivey Purchasing Mgrs Survey came out better than expectations at 61.8 versus 58.0. Last month the index rose sharply to 61.7 . Although the index went higher, the employmnet component fell to 49.2 from 55.9. Tomorrow, the Canadian Unemployment report will be released with the expectation for the unemployment rate rising to 8.5% from 8.4%. The net change in employment is expected to show 10K jobs were created. This is down from the surprise 30.6K rise last month.
Employment 49.2 vs 55.9
Inventory 49.2 vs 46.4
Supplier Delivery 46.9 vs 48.3
Prices 57.0 vs 55.9
The USDCAD fell on the report but has since rebounded ot the 100 and 200 bar MA on the 5 minute chart. Look for a move from this level with a move above being positive, and move back below negative. Activity in the pair remains choppy.
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