CAD is in focus
Canada’s retail sales will be out on October 21 at 15:30 MT time. Get ready with us for this event!
Will the CAD rise on positive Ivey PMI?
Ivey PMI will be announced at 17:00 MT time on January 7.
175 purchasing managers selected geographically across Canada report their business activity each month to Ivey Business School. Ivey PMI is calculated based on these numbers. As businesses react quickly to the changes in market environment and financial outlooks, this indicator is a central tool to assess Canada’s economic health. A resulting value below 50 generally means economic contraction, which was the case in September and October. The November value, which was released on December 5, was 60. That was higher than market expectations and signaled an economic upswing. If a similar scenario takes place on January 7, the CAD may grow.
- If the indicator exceeds the market expectation, the CAD will gain strength.
- If the indicator underperforms, the CAD will fall.
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Risk-on keeps driving the market
The US dollar keeps falling for the third day in a row, whereas riskier assets are rising. Let’s discuss the main market events and analyze the charts.
CAD is in focus
Follow Canadian core retail sales on September 18 at 15:30 MT time!
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