Daily digest market movers: Markets pull away from Greenback as investors await key data
Canada’s MoM Building Permits jumped to a seven-month high of 13.5% in January, well above the 5.5% forecast and recovering from the previous month’s -11.5% decline (which was revised upward from -14.0%).
US Initial Jobless Claims for the week ended March 1 printed slightly above expectations, coming in at 217K versus the forecast 215K, while the previous week saw a revision to 217K from 215K.
Initial Jobless Claims came in above the four-week average of 212.25K.
US Nonfarm Productivity in the fourth quarter held steady at 3.2% compared to the forecast of a tick lower to 3.1%.
US Q4 Unit Labor Costs ticked down to 0.4% from the previous 0.5%, missing the forecasted uptick to 0.6%.
Federal Reserve (Fed) Chairman Jerome Powell testifies before the US Senate Banking Committee in the second of a two-day Q&A about the Fed’s Semi-Annual Monetary Policy Report.
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