16:00 – This was another important point of this day. In addition to data from United States we had updated value of the Canadian Ivey PMI index. The data are disappointing – how reacts CAD?
Data for November were fairly negative – Ivey PMI stood at only 56.8 against forecast of 59.9 and the previous (October) reading of 59.7. Thus, today’s publication breaks lasting three months in a row trend, during which each consecutive indicator Ivey positively surprised with its value:
Ivey PMI index is an indicator of economic activity published by Canada’s Richard Ivey School of Business. The construction of index is the same as in the case of other PMI indices (even the US ISM PMI, the Markit PMI). The level of today’s publication, despite the fact that it failed to meet forecasts of the market should be received positively due to remain above the limit level of 50 points. Reaction of CAD for worse Ivey PMI is not extremely strong. USD / CAD slightly declined: