Felix Homogratus
Commander in Chief
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Canadian Ivey PMI comes out once per month at 10:00 am New York Time.
PMI stands for Purchasing Managers Index. Around 200 executives of most major companies in Canada, spread around different sectors, get asked whether their business is doing better, worse, or the same as previous month. When half of executives do worse and the other half do better, the number reads 50. When more executives do better, the number reads above 50. When more executives do worse, the number reads below 50.
Higher number signifies that Canadian economy is doing better, which in turn means that Canada will be more likely to eventually increase its interest rate. When interest rate of a country is higher, it attracts investors to buy its currency, which increases the value of the currency versus other currencies.
So, when Ivey PMI comes out better than expected, traders tend to speculatively buy Canadian dollars, so USD/CAD tends to go down. When Ivey PMI comes out worse than expected, traders tend to speculatively sell Canadian dollars, so USD/CAD tends to go up.
To read more about UK Industrial Production, visit the official website that releases it. The link is Welcome
I highly recommend you see the history of this indicator and charts of how it affected USD/CAD and other currencies. You can do that by following this link: Forex News Trading | Details and History for CAD IVEY PMI
If you want me to email you 1 day before this report is released, and explain to you in details on how to trade it, then please sign up for my free trading signals by going to this link:
Forex Daily Trading Signals - Forex Peace Army Forum
In the signal, I tell you exactly how many pips the currency will most likely move, depending on the difference between expected and actual numbers.
PMI stands for Purchasing Managers Index. Around 200 executives of most major companies in Canada, spread around different sectors, get asked whether their business is doing better, worse, or the same as previous month. When half of executives do worse and the other half do better, the number reads 50. When more executives do better, the number reads above 50. When more executives do worse, the number reads below 50.
Higher number signifies that Canadian economy is doing better, which in turn means that Canada will be more likely to eventually increase its interest rate. When interest rate of a country is higher, it attracts investors to buy its currency, which increases the value of the currency versus other currencies.
So, when Ivey PMI comes out better than expected, traders tend to speculatively buy Canadian dollars, so USD/CAD tends to go down. When Ivey PMI comes out worse than expected, traders tend to speculatively sell Canadian dollars, so USD/CAD tends to go up.
To read more about UK Industrial Production, visit the official website that releases it. The link is Welcome
I highly recommend you see the history of this indicator and charts of how it affected USD/CAD and other currencies. You can do that by following this link: Forex News Trading | Details and History for CAD IVEY PMI
If you want me to email you 1 day before this report is released, and explain to you in details on how to trade it, then please sign up for my free trading signals by going to this link:
Forex Daily Trading Signals - Forex Peace Army Forum
In the signal, I tell you exactly how many pips the currency will most likely move, depending on the difference between expected and actual numbers.
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