Canada Manufacturing PMI surveys factory purchasing managers on output, orders and hiring; a reading above 50 means manufacturing is expanding and below 50 means it is contracting.
Actual
50.4
Forecast
48.9
Previous
48.6
Canada Manufacturing PMI for Jan came in at 50.4 versus 48.9 expected (previous 48.6), above forecast, which was positive for the CAD.
What it meant for the CAD
The actual landed above the 48.9 forecast (1.5 above expectations). A reading above forecast is generally bullish for the CAD, and below forecast bearish. On this release the read was positive for the CAD.
New to this release? See what Canada Manufacturing PMI measures, the next release and its full history.