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Market Movers Mix: Macro Economic Data In Comparison

The week has been full of appointments. We have seen the publication of many important market movers.

We have already deepened the Eurozone PMI index issue in another article; let’s see what have been the most anticipated market movers of the week. No macro economic indicator stood out for being the protagonist.

The week began with the publication of the consumer price index of New Zealand: it was in positive territory, moving from a previous – 0.5% to + 0.2%.

The next day, investors were waiting for the GDP Price Index. It has increased from 2.1% to 3.8%.

The main market movers of this week for the United States were: crude oil inventories, PMI manufacturing and the demand for unemployment benefits.

Crude oil stocks have undergone a change of 2.080 million barrels, beating the previous 6.634 million barrels. Imports of Crude Oil in the US were equal to 0.247 million barrels against a previous figure of 0.686 million barrels. The inventory Cushing (Oklahoma) of Crude Oil inventories have instead reported an amount of -0.247 million barrels, against the previous data seen at -1.767 million barrels.

The US manufacturing Purchasing Manager Index in April was down, from 51.5 to 50.8, beating even the forecasts of analysts (52.0).

The initial claims for US unemployment benefits for the third week of April totaled 247,000, after the 253,000 of last week. The average number of requests for the 4-week unemployment benefits decreases to 260,500 from 265,000 of last week.

The United Kingdom has had to deal with the same market mover on unemployment.

British applications for unemployment benefits have increased considerably to 6.7 K against a previous -9.7%, while the unemployment rate remained unchanged at 5.1%.

Retail sales in the United Kingdom for the month of March amounted to 1.3%, after falling 0.5% in February.

The date of the referendum that will call the British to vote for the ‘Brexit’ on June the 23rd is approaching. Also Obama, landed in London on yesterday, decided to comment the issue saying: ‘the United Kingdom has an important role in the European Union.’

The last was Canada, with the data on inflation and retail sales.

The consumer price index in Canada, calculated on a monthly basis and for the month of March, recorded a change of + 0.6% up, compared to the previous seen at + 0.2%. The same index, calculated on an annual basis, however, showed an increase of + 1.3%, resulting in a slight decrease compared to the previous seen at 1.4%.

The core consumer price index reported an increase of + 0.7%, beating the estimates steady at + 0.3% and the previous data at + 0.5%.

General retail sales in Canada for the month of February has changed by + 0.2%, after falling 1.3% the previous month.

About next week market movers, there are great expectations for the Federal Reserve meeting and just like the ECB has had to acknowledge the recent macroeconomic improvements, we expect the United State central bank will be forced to recognize a deterioration.

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