The U.S. Department of Labor released March employment figures this morning of 215,000 with expectations at 205,000. The equity market is pointing to a lower open, oil is falling and the Canadian dollar is in the crossfire as risk looks to be coming off to start the new quarter. Later this morning features RBC Manufacturing data for Canada and University of Michigan Consumer Sentiment for the U.S.
Experts expect a range today of $1.3030 to $1.3187 Canadian
The euro is strong from yesterday’s close. March’s euro-zone Manufacturing released just a tad better than expected at 51.6 when forecast was for 51.4. Germany and Italy’s Manufacturing Purchasing Managers' Index did help with the final figures as they both outperformed while France’s figures were in line. The euro has gained over a cent and is currently trading at $1.4909 Canadian.
Observers expect a range today of $1.4925 to $1.50 Canadian
The pound is down from yesterday’s close at $1.8623 Canadian. March’s Nationwide House Prices rose to 5.7% y/y and 0.8% m/m when expectations were for 5.1% y/y and 0.4% m/m. UK PMI Manufacturing also released, but just shy of expectation of 51.2 and printing at 51.0.
The Australian dollar is under pressure today as the pairing with the U.S. dollar has been met with strong resistance at the 0.7700 level. A positive Chinese Manufacturing PMI release provided some lift for the commodity based currency. However, gains are stalled, as losses in oil and European stock markets weigh on market sentiment.
The New Zealand dollar is also under pressure today on worsening risk sentiment in the markets led by a meltdown in the stock market in Asia, which extended into the European market. The kiwi's pairing with the U.S. dollar returned most of yesterday’s gains while losses are keep in check by the positive Chinese PMI.
