by ForexNewsNow Team on July 7th, 2010

Canada purchasing activity slows, confounding forecasts

NEW YORK (Forex News Now) – Purchasing activity in Canada slowed unexpectedly in June from a month earlier, a report showed on Wednesday, in one of the day’s spotlight FX news events.

The Richard Ivey School of Business said its closely watched Purchasing Managers Index slid from 62.7 in May to 58.9 in June.

Global forex analysts had expected June’s reading to come in at 64.1, two major financial news outlets reported.

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