Investing.com - Canada's Ivey purchasing managers’ index unexpectedly contracted in May, underlining concern over the health of the economy, industry data showed on Tuesday.
In a report, the Richard Ivey School of Business said its purchasing managers’ index fell to 49.4 last month from a reading of 53.1 in April.
Analysts had expected the index to rise to 51.5 in May.
A figure above 50.0 indicates industry expansion, below indicates contraction.
USD/CAD was trading at 1.2778 from around 1.2790 ahead of the release of the data.