The Canadian PMI from RBC rose to the highest level since June 2012. The new export orders component rose to the highest since March 2011.
“An anticipated strengthening in global economic growth, particularly in the U.S. which is Canada’s largest trading partner, bodes well for manufacturing activity late this year and early next,” said Craig Wright, chief economist at RBC, in a statement.
This isn’t a closely followed Canadian indicator but it’s gaining some traction. USD/CAD is stuck in a 1.0290 to 1.0330 range with US politics dominating. If the situation worsens, CAD shorts are a favorite trade of mine.
