We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.90%, while traders in US 500 are at opposite extremes with 78.20%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/xNfVZWeHaL
  • The $USD is falling against #ASEAN currencies such as the Singapore Dollar and Indonesian Rupiah as stock markets rise. Watch out for US-China escalation and Brexit talks. Get your market update from @ddubrovskyFX here:https://t.co/PziC8KZaIC https://t.co/IhJHu2WCVZ
  • For those who argue a bullish case for stocks... Let me counter with a single chart of the gold to S&P 500 ratio. Looks to me like risk-reward favors bullion over equities. $XAU $GLD https://t.co/6qiSh8E0ht https://t.co/lKViSEnrMc
  • - Silver prices could pull back as negative RSI divergence shows slowing momentum - Copper prices have risen over 20 percent, are now trading above 17-year uptrend - Monthly perspective show the base metal has entered into a key compression zone https://www.dailyfx.com/forex/market_alert/2020/06/02/Silver--Copper-Prices-Enjoyed-a-Nice-Ride---Is-it-Time-to-Get-Off.html
  • What is it about a colorful Bloomberg Terminal that is so satisfying to look at? https://t.co/Qtv9wwQv75
  • I have finally found a way to express the social climate in San Francisco and the effects of peer pressure: https://t.co/yYFXFHG2Lb
  • The US Dollar, Euro, British Pound and Australian Dollar will all be at the mercy of political developments in Asia, Europe and North America this week. An avalanche of PMI data will set the backdrop.Get your market update from @ZabelinDimitri here:https://t.co/L8cfAgVx94 https://t.co/vwChirq7SL
  • S&P 500 Forecast: Stocks Face Peril as Day of Reckoning Looms Link: https://www.dailyfx.com/forex/fundamental/article/special_report/2020/06/01/spx-sp500-forecast-stocks-face-peril-as-day-of-reckoning-looms.html $SPX $SPY $ES_F #StockMarket #Investing #Analysis https://t.co/sufK8mMtD4
  • #ASEAN currencies (such as SGD, IDR, PHP and MYR) are relatively outperforming the #USD at a stronger pace than the Indian #Rupee vs the Greenback. This is despite notable gains in the MSCI #EmergingMarkets Index. Full $USDINR, #Nifty piece to come later today! https://t.co/n0SlkfnYOV
  • Seasonal factors, oversupply issues and the outbreak of COVID-19 has seen the price of liquefied #naturalgas (LNG) fall to 22-year lows (1.519), with the situation exacerbated by ‘fuller-than-normal’ storage facilities. Get your market update here:https://t.co/VOqfkBQ4aR https://t.co/9gFVefFC3w
Canadian Ivey PMI Unexpectedly Contracts as USDCAD Presses Monthly Highs

Canadian Ivey PMI Unexpectedly Contracts as USDCAD Presses Monthly Highs

2013-08-07 14:28:00
Kevin Jin,
Share:

THE TAKEAWAY: CAD Ivey Purchasing Managers Index s.a. (JUL) > 48.4 versus 57.0 expected, from 55.3 > USDCAD BULLISH

Canadian data comes in weak yet again today, after Canadian Building Permits numbers missed. The Ivey Purchasing Managers Index comes in at 48.4, far below the Bloomberg News survey consensus of 57.0. This is importantly below the 50.0 level, which indicates a contraction in the number of purchases across various Canadian industries.

Today’s reading is the lowest level since November, which is also the last time a sub-50.0 number was printed. The recent bout of weak Canadian data highlights a potential economic slowdown. Data was optimistic earlier this year, with the Ivey PMI topping 63.1 in May, but has since stagnated.

USDCAD 1-minute Chart: August 7, 2013

Canadian_Ivey_PMI_Unexpectedly_Contracts_as_USDCAD_Presses_Monthly_Highs_body_Picture_1.png, Canadian Ivey PMI Unexpectedly Contracts as USDCAD Presses Monthly Highs

Charts Created using Marketscopeprepared by Kevin Jin

The USDCAD rallied about +12 pips after the poor Canadian data. The pair was able to breach $1.0420, but has since traded slightly lower. The CAD remains the weakest major currency against the USD, down -0.38% at the time of writing. The USDCAD intraday high of $1.0444 is the highest level since July 11.

--- Written by Kevin Jin, DailyFX Research

Are you new to trading? Watch this.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.