- Prior was 52.2
The Canadian dollar will be trading on economic data today.
Commenting on the latest survey results, Paul Smith,
Economics Director at S&P Global Market Intelligence
said:
“January’s survey highlighted the complex impact that
possible US tariffs are presently having on the Canadian
manufacturing economy. Firms noted that clients in
some instances were bringing forward their orders to
get ahead of these potential tariffs, and output amongst
manufacturers was being raised in response. Firms
even took on additional staff to help service additional
workloads, and this helped them to keep on top of their
current orders.
“However, the threat of tariffs from the US is leading
to a huge amount of uncertainty in product markets,
and firms are growing increasingly concerned about
a potential trade war with a key trading partner.
Subsequently, confidence in the outlook dropped quite
noticeably in January, whilst growth rates for both
output and new orders deteriorated since the end of
2024.”
This article was written by Adam Button at www.forexlive.com.
