The PMI is a Composite Index based on the seasonally adjusted diffusion indices for five of the indicators with varying weights: New Orders – 30% Production – 25% Employment – 20% Supplier Deliveries – 15% and Inventories – 10%. A higher than expected reading tends to be positive or bullish for the US Dollar, while a…
Investors pointed to the American Petroleum Institute’s (API) US Inventory Data, issued Tuesday, as weighing on prices. The U.S. Energy Information Administration (EIA) will issue its Inventory Data today at 10:30 AM ET. If the increase in Crude Inventories is more than expected, it implies weaker demand and is Bearish for Crude prices. The same can be…
Core Retail Sales measures the change in the total value of sales at the retail level in Canada, excluding automobiles. It is an important indicator of consumer spending. Expected reading is -0.3% forecast against 1.7% current reading. A higher than expected reading tends to be Positive/ Bullish for the CAD, while a lower than expected…
The past week has been very busy to say the least. The Bank of Canada announced its Monetary Policy decision and at the same time released its quarterly Monetary Policy Report (MPR). With markets closed for the Easter holidays on Friday and Monday, traders seemed quite cautious before a four day holiday weekend. Persistent geopolitical…
Trading The US Producer Price Index (PPI) (MoM) (Mar.) The US PPI Data Month-on-Month for March, is due 8:30 AM ET Thursday. The Producer Price Index (PPI) is a major market catalyst. It measures the change in the Price of Goods Sold by Manufacturers. It is a leading indicator of Consumer Price Inflation, which accounts for the…
Fifth Avenue store spaces are empty. New York is looking vacant. Crude rally extends into the 7th. Saudi still tough on cuts. US and Russia negotiating over Syria. Geopolitical tensions stay high. As a barrel of West Texas Intermediate for May delivery was trading at $53.69 as of 5:23 AM Eastern Time, the highest level in over a…
The Energy Information Administration’s (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation. If the increase in crude inventories is more than expected, it implies weaker…
The German Services Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the services sector. The report is based on surveys of over 300 business executives in private sector services companies. Data is usually released on the third working day of each month.
