• Canadian Ivey PMI rose to 50.7 in January from 45.0 in December. 
• The loonie did not see any reaction to the latest data. 

Canadian Ivey PMI rose to 50.7 in January from 45.0 in December, the latest survey from the Richard Ivey School of Business revealed. As with other PMI indicators, a result above 50 is generally associated with MoM growth in economic activity. Thus, Canada's Ivey PMI suggests business conditions in the country rose ever so slightly back into expansionary territory in January, as the economy started to tentatively recover from the rapid recent spread of the Omicron Covid-19 variant.

Market Reaction

The loonie did not react to the data.