Key Highlights
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US dollar climbed back higher as the EURUSD traded back towards the 1.0500-20 area.
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Canadian employment change representing the change in the number of employed people in Canada released by the Statistics Canada came in at -1.0K in February 2015, compared to the preceding month.
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Canadian unemployment rate increased from 6.6% to 6.8% in February 2015.
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US Producer Price Index representing the average changes in prices in primary markets of the US by producers of commodities in all states of processing released by the Bureau of Labor statistics, Department of Labor declined by 0.5% in February 2015, compared to the preceding month.
Key Releases:
Canadian unemployment rate (Canadian Dollar)
Canadian employment change (Canadian Dollar)
US PPI (US Dollar)
US PPI
Earlier during the NY session, the Producer Price Index representing the average changes in prices in primary markets of the US by producers of commodities in all states of processing was released by the Bureau of Labor statistics, Department of Labor. The forecast was slated for an increase of 0.3% in February 2015, compared to the preceding month. However, the US PPI came below the forecast and posted a decline of 0.5% in February 2015.
In terms of the yearly change, the US PPI declined by 0.6% in February 2015, compared to the same month a year ago. The report stated that about 25% of the decline in the services index was due to the fuels and lubricants, which declined by around 13%. Some other sectors like machinery, equipment, parts, and supplies wholesaling; apparel, jewelry, footwear, and accessories retailing; food and alcohol retailing; truck transportation of freight and wireless telecommunication fell during February 2015.
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