The Ivey PMI headlines the Canadian data slate today, with the country’s business-activity gauge due at 14:00 UTC. It is the CAD calendar’s main scheduled release of the session, drawing attention across the loonie crosses.
What the Ivey PMI measures
The Ivey Purchasing Managers Index tracks the month-over-month change in economic activity reported by a panel of purchasing managers across Canadian public- and private-sector organisations. The survey spans purchases of goods and services, and a reading above 50 signals that activity is expanding versus the prior month, while a figure below 50 points to contraction.
Markets follow it as a timely, broad read on Canadian demand that lands ahead of slower official data. The forecast stands at 65.2, up from the previous reading of 64.3. Both figures sit far above the 50 mark, so the detail that draws attention is the direction and scale of the month-to-month change rather than whether activity is expanding at all.
How the Canadian dollar pairs are trading
On our feed, the Canadian dollar is trading mixed against its major peers. EURCAD is the biggest mover, down 0.34% at 1.59843, with NZDCAD close behind, off 0.33% at 0.79768. CADCHF trades 0.31% higher at 0.58251, the largest gain among the CAD pairs listed.
GBPCAD is lower by 0.24% at 1.88266. The moves are smaller elsewhere: AUDCAD is up 0.13% at 0.99203 and CADJPY is also 0.13% firmer at 110.81.
The release is watched for how the pace of Canadian business activity compares with the prior month and the forecast.
Descriptive market news from the ForexBullion Research Team. Not investment advice.
