During the early trading session, Asian stocks traded following weak U.S. data. The Building Permits, Housing Starts and Initial Jobless Claims all showed lower than expected figures. These negative reports added to concerns over an improving economy in the leading market. The Nikkei share average was down 1.17%, closing at its lowest weekly price of 19,652 and the Hang Seng Index was down 0.13%.
At the open on the London Stock Exchange, the British pound rallied against the Dollar despite negative data from the UK. The Average Earnings Index + bonus and the Claimant Count Change both showed better than expected figures. Traders sentiment weighed on the USD after yesterdays weak U.S. data. The Dollar plunged against the CAD following the release of positive data out of Canada. The monthly Core CPI rose to 0.6%, above the expected figure of 0.3%, furthermore, the Core Retail sales for the month of February showed a significantly better than expected reading of 2%. The pair dropped to 1.208, its lowest level in 3 months.
Markets are expected to trade will little volatility at the beginning of next week, due to lack of important data releases, however trading volume should pick up again on Wednesday as Australia is to release the first quarterly and yearly CPI figures and the U.S. is to release Existing Home Sales.
Daily Market News April 17th 2015
During the early trading session, Asian stocks traded following weak U.S. data. The Building Permits, Housing Starts and Initial Jobless Claims all showed lower than expected figures. These negative reports added to concerns over an improving economy in the leading market. The Nikkei share average was down 1.17%, closing at its lowest weekly price of 19,652 and the Hang Seng Index was down 0.13%.
At the open on the London Stock Exchange, the British pound rallied against the Dollar despite negative data from the UK. The Average Earnings Index + bonus and the Claimant Count Change both showed better than expected figures. Traders sentiment weighed on the USD after yesterdays weak U.S. data. The Dollar plunged against the CAD following the release of positive data out of Canada. The monthly Core CPI rose to 0.6%, above the expected figure of 0.3%, furthermore, the Core Retail sales for the month of February showed a significantly better than expected reading of 2%. The pair dropped to 1.208, its lowest level in 3 months.
Markets are expected to trade will little volatility at the beginning of next week, due to lack of important data releases, however trading volume should pick up again on Wednesday as Australia is to release the first quarterly and yearly CPI figures and the U.S. is to release Existing Home Sales.
Main Events (GMT)
09:30 -GBP- Average Earnings Index +Bonus (Feb)
09:30 -GBP- Claimant Count Change (Mar)
09:30 =GBP- Unemployment Rate (Feb)
10:00 -EUR- Core CPI (YoY) (Mar)
10:00 -EUR- CPI (YoY) (Mar)
13:30 -USD- Core CPI (MoM) (Mar)
13:30 -USD- Core CPI (YoY) (Mar)
13:30 -USD- CPI (MoM) (Mar)
13:30 -CAD- Core CPI (MoM) (Mar)
13:30 -CAD- Core Retail Sales (MoM) (Feb)
13:30 -CAD- Foreign Securities Purchases (Feb)
13:30 -CAD- Retail Sales (MoM) (Feb)
15:00 -USD- Michigan Consumer Expectations (Apr)
15:00 -USD- Michigan Consumer Sentiment (Apr)
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