Index of Institute of Statistics of Canada measures the level of activity of purchasing managers in Canada. Any values above 50 indicate an expansion in production, while values below 50 indicate a reduction. Traders carefully study these studies, as purchasing managers usually get early access to their company’s performance data, which can be a leading indicator of the overall state of the economy. The data above the forecast strengthens CAD, the data below the forecast put pressure on the national currency. The index is expected to rise from 50.6 to 51.1 points in March.
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