Investing.com - Canada's Ivey purchasing managers’ index rose more than expected in September, bolstering optimism over the health of the economy, industry data showed on Friday.
In a report, the Richard Ivey School of Business said its purchasing managers’ index rose to 58.4 last month from a reading of 52.3 in August.
Analysts had expected the index to increase to 53.0 in September.
A figure above 50.0 indicates industry expansion, below indicates contraction.
Immediately following the report, the loonie strengthened. USD/CAD was trading at 1.3228 from around 1.3242 ahead of the release of the data.