Daily Market Roundup: US ? April 10

Daily Market Roundup: US ? April 10

By: Oliver Miller | Where To Trade | On:10-04-2015 10:54
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Key Highlights

  • EURUSD retracement failed around the 1.0900-10 resistance area as the US dollar buyers appeared again.

  • Canadian housing starts released by the Canadian Mortgage and Housing Corporation registered a reading of 189.7K in March 2015, compared to the forecast of 175.0K.

  • US Export Price Index measuring the changes in the price of U.S. export goods and services released by The U.S. Department of labor came in at 0.1% in March 2015.

  • US Import Price Index registered a reading of -0.3% in March 2015, compared to the forecast of a 0.2% decline.

  • Canadian employment Change released by the Statistics Canada posted a reading of 28.7K in March 2015, compared to the expectation of 0K.

Key Releases:

Canadian housing starts (Canadian Dollar)

Canadian employment data (Canadian Dollar)

US import and export price index (US Dollar)

Canadian Housing Starts

Earlier during the NY session, the Canadian housing starts report pointing how many new single-family homes or buildings were constructed was released by the Canadian Mortgage and Housing Corporation. The forecast was lined up for a rise of 175.0K in March 2015, compared to the preceding month. However, the outcome was above the expectation, as the Canadian housing starts came in at 189.7K in March 2015. There was a slight disappointment as the last reading was revised down to 151.2K.

Canadian Employment Report

There was one more release lined up in Canada, as the employment change was published by the Statistics Canada. The forecast was lined up for a reading of 0K in March 2015, compared to the last decline of 1K. However, the outcome as way above the forecast, as the Canadian employment Change came in at 28.7K. There was no change in the unemployment rate as it stayed at 6.8%.

The report mentioned that when we consider the yearly change, then the employment change was up by 138,000 or we can say 0.8% in March 2015, compared to the same month a year ago. The best thing was that the gain was mostly due to the growth in full-time work. Moreover, the total number of hours worked was up by around 0.1%.

USDCAD Reaction and Moves Ahead

The USDCAD pair traded lower in an initial reaction after the release, but the US dollar buyers managed to contain the downside in the short term. We need to see how it trades moving ahead.

Futures for the Dow Jones Industrial Average surged higher to trade close to 18,050 and the S&P 500 index traded to 2,100.

 

Oliver Miller

Oliver Miller

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