Canadian jobs and UMich consumer sentiment top the economic calendar

Author: Adam Button | Category: News

What's coming up in New York trade

What's coming up in New York trade
The Canadian jobs report and US PPI are due at the bottom of the hour. PPI could be hot today, given all the survery data highlighting rising input prices. It's landing into a soft bond market so it could have some effect.

A more-likely market mover is the Canadian jobs report, which is expected at +75K. It was down 212K in January but there were some one-off factors and adjustments that the market shrugged off. A surprisingly strong number could send USD/CAD through 1.2500 and spark a test of the Feb low, but it will need some help from the broader risk trade.

At 1500 GMT, the March prelim U Michigan consumer sentiment survey is due. There's a one-way skew in this number: If it's strong it's a sign of a booming economy. If it's soft, it gets a free pass because stimulus money is coming.

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