A disappointing figure was released today, with Canada Ivey PMI falling from 58.9 to 51.1 in February. Analysts were expecting data to ease to 57.5.
Mar 6, 2013
Forex: USD/CAD soars after BoC
The Canadian dollar weakened sharply versus the greenback after the BoC decided to keep its monetary policy unchanged, with the main rate at 1%, but sounded more dovish than expected: "the considerable monetary policy stimulus currently in place will likely remain appropriate for a period of time, after which some modest withdrawal will likely be required".