Canadian Dollar Gains, Dollar Retreats

Canadian Dollar Gains, Dollar Retreats

By: Oliver Miller | Where To Trade | On:16-04-2015 09:32
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Key Highlights

  • Aussie dollar and the Canadian dollar were the best performers of the day as both gained a lot of bids against the US dollar and traded higher Intraday.

  • Australian New Motor Vehicle Sales calculating motor vehicle sales in Australia released by the Australian Bureau of Statistics registered a rise of 0.5% in March 2015, compared to the preceding month and the last reading was of 2.7%.

  • In terms of the yearly change, the New Motor Vehicle Sales gained by 4.4% in March 2015, compared to the same month a year ago which was above the last gain of 4%.

  • Chinese FDI (Foreign Direct Investment) highlighting the total investment capital made by foreign enterprises, economic organizations and individuals released by the Ministry of Commerce of the People’s Republic of China posted an increase of 11.3% in March 2015.

  • Swiss Producer and Import Prices i.e. an indicator of consumer price inflation provided by the Federal Statistical Office registered an increase of 0.2% in March 2015, compared to the preceding month and was better than the last decline of 1.4%.

  • In terms of the yearly change, the Swiss Producer and Import Prices a decline of 3.4% in March 2015, compared to the same month a year ago, and last was -3.6%.

Swiss PPI

Earlier today in the Switzerland, the Producer and Import Prices which is an indicator of consumer price inflation was released by the Federal Statistical Office. The forecast was positioned for an increase of 0.1% in March 2015, compared to the preceding month. However, the outcome was a touch above the forecast, as the Swiss PPI posted an increase of 0.2% in March 2015. However, there was no major reaction in the Swiss franc, but on the other hand, it was seen trading a bit lower during the London session. The USDCHF pair spiked from the lows of 0.9600 and traded more than 20 pips higher.

When we consider the yearly change, then the Swiss PPI posted a decrease pf 3.4% in March 2015, compared to the same month a year ago. However, this was on the lower side when compared to the last decrease of 3.6%

Overall, there was something positive to note from the report, but it was not that good to lift the Swiss franc.

Australian Employment Report

Earlier in Australia, there was a monster release scheduled as the Employment Change determining the change in the number of employed people in Australia was published by the Australian Bureau of Statistics. The outcome was well above the market expectation, as the expectation was of 15K jobs in March 2015, compared to the preceding month but it came in at 37.7K. In the distributed manner, the full-time employment was up by 31,500 to 8,131,400, and the part-time employment was up by 6,000 to 3,588,900.

Technical Outlook – USDCHF

The Swiss franc gained during the Asian session today, but later found support around the 0.9600 area. The USDCHF pair is currently correcting higher and facing resistance around 0.9680.

 

Oliver Miller

Oliver Miller

"Patience is the key for success"

Oliver Miller is one of the best financial analyst with 18 years of online trading experience

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