Daily digest market movers: Canadian Dollar extends recovery in steady markets
- Monday’s Canada data saw mixed prints, but market focus remains elsewhere, giving the CAD room to run.
- Canadian Industrial Produce Prices came in at the expected 0.8% in March, easing back slightly from the previous month’s 1.1% (revised upward from 0.7%).
- The Canadian New Housing Price Index flatted in March, printing 0.0% versus the forecast steady hold at 0.1%. YoY NHPI eased back -0.4% as housing prices wobble following years of accelerated growth.
- Canada’s Raw Material Price Index jumped 3.7% in March, vaulting over the forecast 2.9% compared to February’s 2.1%.
- Canadian February Retail Sales due to print in the midweek, forecast to rebound to 0.1% on Wednesday after January's -0.3% decline.
- Tuesday’s US S&P Global Purchasing Managers Index (PMI) will be the key data print for the early week, with the Manufacturing component forecast at 52.0 (previous 51.9) and the Services component also anticipated to print at 52.0 (last 51.7%).
- US Gross Domestic Product (GDP) and US Core Personal Consumption Expenditures (PCE) to dominate market focus in the back half of the trading week.
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