Daily digest market movers: Upbeat Canadian PMIs fail to spark bullish interest
- Canada’s seasonally-adjusted Ivey PMI for April improved to 63.0 from 57.5, beating the forecast of 58.1.
- April’s Ivey PMI hit a two-year high, printing its highest activity survey result since May of 2022.
- Broader markets continue to focus on Fedspeak as investors hope for signs of rate cuts from the Fed.
- Thursday’s Financial System Review from the Bank of Canada (BoC) is widely expected to produce market moves.
- CAD traders looking out for Friday’s Canadian Net Change in Employment and Unemployment Rate numbers.
- Canada’s Net Change in Employment forecast to add net 20K jobs in April after the previous month’s -2.2K decline.
- The Canadian Unemployment Rate is expected to have increased to 6.2% in April, up slightly from the previous month’s 6.1%.
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