Canadian factory PMI hits near four-year high on war-related stock building

Canada’s manufacturing sector expands as Iran war drives stockpiling and supply concerns

Expansion appears to hinge on ‘worry rather than any meaningful or permanent uplift in demand,’ S&P economist warns

Canadian factory PMI hits near four-year high on war-related stock building

By Fergal Smith TORONTO, May 1 (Reuters) – Canada’s manufacturing sector expanded in April at the fastest pace in nearly four years as the war in the Middle East spurred stock building and added to inflation pressures, data ​showed on Friday. The S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) rose to ‌53.3 last month from 50.0 in March, marking the highest level since June 2022. A reading above 50 shows expansion in the sector.…

USD/CAD holds near 1.3580 as Loonie firms on stronger PMI

The post USD/CAD holds near 1.3580 as Loonie firms on stronger PMI appeared on BitcoinEthereumNews.com. USD/CAD edged higher by less than 0.1% on Friday, recovering from an early-session low near 1.3560 to trade around 1.3590. The pair has shed roughly 0.6% on the week after rolling over from the 1.3700 area mid-week, and momentum has appeared sluggish close to 1.3580 as a cluster of small-bodied candles points to indecision. The US-Iran conflic…