Daily Market Roundup: US ? April 16

Daily Market Roundup: US ? April 16

By: Ben Myers | Where To Trade | On:16-04-2015 11:18
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Key Highlights

  • US dollar dives against most majors as risk sentiment gains pace, and EURUSD and GBPUSD traded higher.

  • US Initial Jobless Claims released by the US Department of Labor increased from the last revised reading of 282K to 294K.

  • US Housing Starts released by the US Census Bureau, at the Department of Commerce posted a reading of 0.926M in March 2015, compared to the last revised reading of 0.908M.

  • US Building permits came in at 1.039M in Feb March 2015, compared to the forecast of 1.080M.

  • US continuing jobless claims managed to post a better reading of 2.268M.

Key Releases:

US initial jobless claims (US Dollar)

US housing starts (US Dollar)

US building permits (US Dollar)

US continuing jobless claims (US Dollar)

US Initial Jobless Claims

Earlier during the NY session, the Initial Jobless Claims was released by the US Department of Labor. The forecast was lined up for a minor decrease from 281K to 280K in the week ending April 11 advance figure for seasonally adjusted. However, the report pointed that there was an increase of more than 10K and the US Initial Jobless Claims came in at 294K. The report highlighted that the 4-week moving average stands around the 282,750 level, which is 250 higher than compared to the previous week's revised average of 282,500.

The US continuing jobless claims data was somehow better than the market’s expectation. It posted a reading of 2.268M, which was higher compared to the forecast of 2.312M. The last reading was also revised up to 2.308M. The 4-week moving average came in at the 2,329,000, which is 32,750 less than the previous week's revised average.

In terms of the unadjusted data, the advance number of actual initial claims came in at 307,500 in the week ending April 11, which was higher by 53,967 compared to the last week.

US Building Permits

One more release was lined up, as the Housing Starts data indicating info about how many new single-family homes or buildings were constructed was released by the US Census Bureau, at the Department of Commerce. The market was expecting it to stay at 1.040M in March 2015, compared to the preceding month. However, the outcome missed the mark, as the US privately-owned housing starts posted a reading of 0.926M in the seasonally adjusted terms.

Looking Ahead

Futures for the Dow Jones Industrial Average was mostly unchanged and traded near 18,100, and the S&P 500 index was around 2,105.

 

Ben Myers

Ben Myers

Success = few pips, thousand times

Ben Myers is one of the most respected and trusted names in the financial trading industry. Following a long and successful career with HSBC, Bank of Ireland and running his own investment firm

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