Canadian Dollar mixed on Thursday as Crude Oil flattens.
Canada saw an improvement in Manufacturing PMIs for January.
Markets gear up for another US NFP on Friday.
The Canadian Dollar (CAD) is broadly mixed against a basket of major currencies on Thursday but sees some gains against the US Dollar (USD). Markets are settling following Wednesday’s Federal Reserve (Fed) outing that saw Fed Chairman Jerome Powell strike a much more hawkish tone than many investors expected. This knocked equity markets lower and drove risk-off flows into the safe haven US Dollar.
Canada saw an uptick in the S&P Global Manufacturing Purchasing Managers Index (PMI) for January, but the indicator of production confidence remains in contractionary, sub-50.0 territory. US ISM Manufacturing PMIs likewise printed above expectations, but similarly remain below 50.0. US Initial Jobless Claims unexpectedly jumped, coming in above the four-week average for US jobless benefits seekers.
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