The preliminary reading of India’s HSBC Manufacturing Purchasing Managers Index (PMI) declines to 54.3 in May versus 54.7 prior, the latest data published by S&P Global and HSBC Bank showed on Thursday.
USD/CAD trades with a mild upside bias on Wednesday, supported by a firmer US Dollar (USD), while a modest pullback in Crude Oil prices weighs slightly on the commodity-linked Canadian Dollar (CAD). At the time of writing, the pair is trading around 1.3760, hovering near one-month highs.
Gold (XAU/USD) holds firm on Wednesday after falling 1.85% the previous day, as a pause in the global bond sell-off helps reduce upward pressure on Treasury yields and offers some support to the non-yielding metal.