Canada Purchasing Manager Much Higher

Canada Ivey PMI Data at 10AM

Canada Ivey falls sharply to 48.4. $USDCAD rises sharply.

The expectation was for a decline to 52.0 from 55.9 but the fall to 48.4 was a surprise.  The fall has led to a sharp rise in the USDCAD with the price moving above the 100 and 200 bar MAs on the 5 mnute chart at the 1.0322 and 1.0325 levels respectively. The key target on the topside remains the 1.0405/15 area.  Look for buyers on dips now with  support at the 1.0325 key. A break of the days highs at the 1.0356  is the next target to get through.

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.

Canada Ivey Managers Index better than expected

The Ivey PMI Index rose to 55.7 from 51.8 last month and above expectations of 54.5. ALthough better, Employment was weaker while prices rose.

Purchasers Index     55.7  vs 51.8 
 Employment              47.5  vs 48.2
Inventory                     45.5  vs 53.9
Supplier Delivery      47.5  vs 42.6
Prices                              54.2  vs 52.8

The USDCAD has moved down slightly on the better than expected data.  Support remains at 1.0915 area. 

The market has quieted down as the market prepares for the holiday weekend in the USA (FXDD will of course have our normal trading hours today and next week).   Expect continued choppy trading however, as positions are squared up before the weekend.

Canada Ivey comes in stronger

Ivey comes in at 58.2.  The better than expected data, should pressure the USDCAD.

Employment             50.0  vs 50.0 last month
Inventory                  43.0  vs 44.7 last month
Supplier Delivery    51.9 vs  42.5 last month
Prices                           60.4  vs 54.2 last month

Canada Ivey Index for March due at 10:00 AM

Canada’s Ivey PMI Index is due at 10:00 AM.  The Ivey Index is a survey of about 175 purchasing managers aimed at getting their rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.  It is similar to the US ISM Index for manufacturers. 

Last month the index rebounded from lowest level on record (going back to 1999) in January at 36.1.  The index rose to 45.2.  Much of the gain was attributed to seasonal factors.  Adjusting for seasonality, the index rose to 43.5 from 42.3 the month before. 

This month the expectation is for the index to rise again to 47.0.  This would be the highest level since October 2008. 

« Previous Page