The Canadian consumer price index increased 0.2% in March amid expectations for a 0.3% rise, while the annualized reading for inflation unexpectedly slipped to 1.2% from 1.4% in the previous month. Meanwhile, core prices crossed the wires strong than expected as the index rose 0.3% from February
[U][B]Fundamental Headlines[/B][/U]
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USDCAD – The Canadian consumer price index increased 0.2% in March amid expectations for a 0.3% rise, while the annualized reading for inflation unexpectedly slipped to 1.2% from 1.4% in the previous month. Meanwhile, core prices crossed the wires strong than expected as the index rose 0.3% from February, while they increased 2.0% from the previous year, and the breakdown of the report showed that prices for clothing and shoes increased 2.2%, while the cost of food increased another 0.2% following the 0.5% rise in the previous month. Discuss the topic and your trade ideas in the USD/CAD Forum.
EURUSD – The Euro-Zone trade deficit narrowed to 4.0B from a revised reading of 5.4B in February as imports faltered. The breakdown of the report showed exports rose 0.5% during the month, while imports declined 0.8%, after falling 8.3% in the previous month, and despite a modest rise in foreign demands, the overall trend remains firmly to the downside as the region’s exports to its main trading partners fell by more than 25% from a year earlier. Moreover, construction outputs dropped 1.8% in February amid the upward revision in the previous month’s reading to 1.6% from 1.3%, which lower the annual reading to -11.8% from -9.0% in January. The data continues to foreshadow a deepening recession in the euro-region as demands from home and abroad deteriorate at a rapid pace, and conditions are likely to get worse in the months ahead as the downturn in the global economy intensifies. Discuss the topic and your trade ideas in the EUR/USD Forum.
CHFUSD – Retail sales in Switzerland plunged 3.8% in February after rising at an annual pace of 1.2% in the previous month, and the outlook for private-spending remains bleak as household face a weakening labor market. Meanwhile, the breakdown of the report showed that spending on personal goods dropped 16.7% after falling 12.1% in the previous month, and was followed by a 14.7% decline in clothing and shoes. The data continues to reinforce a dour outlook for growth and inflation as private-sector spending accounts for nearly 50% of the economy, and conditions are likely to get worse as the Swiss National Bank expects the region to face its worst economic downturn since 1975. For more news and resources, visit the new Swiss franc Currency Room.
