• Canada Markit Manufacturing PMI continued to edge higher in October.
• USD/CAD continues to fluctuate below 1.2400 on Monday.

The business activity in Canada's manufacturing sector continued to expand at a robust pace in October with the Markit Manufacturing PMI rising to 57.7 from 57 in September. This print came in better than the market expectation of 57.2.

Commenting on the data, "latest PMI data revealed that Canada's manufacturing sector performed strongly, continuing 2021’s run of robust growth," said Shreeya Patel, Economist at IHS Markit. "Concerns surrounding supply were reinforced with severe delivery delays and near-record increases in costs again evident in October."

Market reaction

The USD/CAD pair showed no immediate reaction to this report and was last seen losing 0.07% on the day at 1.2378.