- The Ivey Purchasing Managers’ Index fell to 26 in March from 54.1.
- The USD / CAD pair rebounded from lows on disappointing data.
Economic activity in the Canadian private sector contracted at a strong pace in March with the Ivey Purchasing Managers Index falling to 26 (seasonally adjusted) from 54.1 in February. This reading misses the market expectations of 41 with a wide margin.
Further details from the publication revealed that the Employment Index fell to 26.8 from 54.7 and the Supplier Delivery Index fell to 17.7 from 41.8.
That USD / CAD the pair recovered slightly from the daily low set at 1.3945 and was last seen trading at 1.3990, erasing 0.85% daily.
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