The Loonie appreciated against the US Dollar to touch the intraday high, following the Ivey PMI report on Thursday. The USD/CAD exchange rate rose 12 base points or 0.09% to bounce back to the pre-data level, though managed to finish the session nearing the 1.2860 level.
The purchasing activity in Canada was slightly weaker in November, due to lingering decrease in supplier deliveries, despite the employment growth. The Richard Ivey School of Business’ report showed that its seasonally adjusted PMI index fell to 63.0 from 63.8 registered in October. Meanwhile, the employment gauge increased to 53.9 points, foreseeing the jobless rate to the nine-year low and indicating further improvements in the country’s labour market.
