- CA annualized CPI at 1.2% vs. 1.1% expected
- CA retail sales prints at 1.3% vs. 0.7% expected
- Fed members Fisher and Stein support new guidance; Kocherlakota wants a lower jobless rate threshold
The dollar didn’t end the week on a positive note as it failed to extend its gains against most of its counterparts. It weakened against the comdolls with AUD/USD and NZD/USD popping up by around 40 pips while European pairs like EUR/USD and GBP/USD ranged tightly in the last hours of Friday’s trading.
The Greenback also didn’t have much luck with the yen after a weakness in U.S. equities and bond yields weighed on the pair. Heck, the yen crosses were even affected as we saw uniform losses in EUR/JPY, GBP/JPY, and AUD/JPY.
Probably the biggest gainer in the group was the Loonie, which traded on positive Canadian data. Early in the week remarks by Poloz about the possibility of a rate cut got the investors’ attention on Canada’s inflation. Imagine their surprise when the monthly data came in at 0.8% from last month’s 0.3% reading!
Today the spotlight is on China’s HSBC manufacturing PMI, which had just printed at 48.1 when analysts had been expecting a 48.7 reading. Keep your eyes peeled on how investors will react to the news for the rest of the Asian session!
Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.
Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!