CAD Ivey PMI higher

Canadian Ivey PMI comes out at 59.9 versus 54.4 expected and USDCAD moves further down in Canadian Dollar strength after the strength initially caused by the BOC Statement at the Interest Rate Decision. Basically killing all expectations of a cut early in 2012. With GDP at 3.5% and CPI at 2.9% this PMI readings shows despite the global slowdown Canada at least is not doing so badly.