Ivey’s PMI slumped to 26 in March vs 41 expected | Instant News

  • 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.

Market reaction

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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