Index falls to 55.9 vs last months 62.3.
Employment 50.7 vs 51.8
Inventories 48.9 vs 59.5
Supplier Deliveries 48.8 vs 45.6
Price index 59.4 vs 64.4
The 3 month average is 58.8 vs 56.1 last month.
The USDCAD has been moving higher in trading today and traded at the highest level since April 10th just before release (high reached 1.26586). Oil prices (WTI) are down 4.85% which is keeping pressure on the pair. Also, Canada's capital spending plans were announced earlier today and it showed that spending will decline in 2015 for the 1st time since 2009 recession (-4.9% for the year). The decline was led by a plunge in the oil and gas industries (-18.7%)
Technically, the USDCAD has been trending higher in the European/London trading session. The last trend leg lower has the 38.2-50% of the move higher at the 1.2639-44. Watch for aggressive buyers. On a move below that level, the 1.2621 will be eyed..
