Canadian Ivey manufacturing PMI:
- Prior was 50.1
- Non-seasonally adjusted at 50.6
It's moving in the right direction but USD/CAD ticked higher on the kneejerk. That's more to do with flows at the top of the hour and another sign that no one is trading on the Ivey PMI. There was a time when it was a market mover but it's so volatile and it correlates poorly with any real indicators.
Who could trust an indicator this volatile?
