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Canadian August PMI beats the street- USD/CAD edges back from session high at 1.3550
The Canadian August manufacturing PMI data has just been released and it has beaten forecasts by some margin. The markets were expecting a reading not that much improved from the July reading of 47.8. It has just come in at 49.5 and that was quite a beat and almost back into expansionary territory above 50. The USD/CAD was pushing to session highs, around 1.3550 just ahead of this release, up from an earlier low today, at 1.3492, This data has seemingly stalled that rebound and now the USD/CAD is tracking lower again, currently trading at 1.3535
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