Canada S&P Global Manufacturing PMI climbed from previous 47.7 to 49.6 in October

💡 DMK Insight

The uptick in Canada’s S&P Global Manufacturing PMI to 49.6 is a subtle signal for traders: While still below the neutral 50 mark, this improvement suggests a potential stabilization in manufacturing activity, which could impact the broader economic outlook. For traders, this means keeping an eye on CAD pairs, especially against the USD, as a stronger manufacturing sector may lead to a more hawkish stance from the Bank of Canada. If CAD gains traction, it could influence asset flows into commodities and related currencies. However, don’t overlook the flip side—if this is just a blip and not a trend, any bullish CAD moves could quickly reverse. Watch for key resistance levels in CAD/USD around 1.37 and support near 1.34. If the PMI trend continues upward, it might signal a shift in market sentiment, so keep your charts updated and monitor economic releases closely for confirmation.