The Canadian, Australian and New Zealand dollars have been hit by weaker commodity prices and dollar strength. Canada was the only country to release consequential economic data. Consumer prices grew at a slower pace in March which was worse than the market expected, but right in line with our expectations. The drop in industrial product and raw material prices gave us a good clue that CPI could be soft as well. Over the next 24 hours, we are expecting Australian import and export prices along with Canadian leading indicators and wholesale sales. These are Tier 2 reports for both countries, which mean they will not be particularly market moving.
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advertisementCanadian, Australian and New Zealand Dollars Hit by Selling PressureThursday, 17 April 2008 20:29:10 GMT |