Morning Market Update –Euro is gaining Momentum

Total Vehicle Sales in the United States went down below the forecasted values (16.9M): Actual came in at (16.66M). South Korea saw some better results with the Gross Domestic Product Growth Rate (YoY) rising up from a previous 2.7% to 2.9% in the first quarter and the Gross Domestic Product Growth Rate (QoQ) coming in at 1.1% (1Q) versus the previous value of 0.9%.

Japan saw a negative data release with the Japanese Monetary Base (YoY) dropping down from a previous value of 19.8% to 19.4%. The Australian dollar looks better for the day with the HIA New Home Sales (MoM) coming in at 0.8% in March from a previous value of -1.1%.

Moving on for the day, we have Spain’s Unemployment Rate forecasted at a value of -110.2K against the previous value of -129.3K. United Kingdom’s Construction Purchasing Managers Index (PMI) might see a slight decline but looks to be steady in the day and we expect the index to not cause any harm to the pound. Euro looks to gain some momentum with the Producer Price Index (PPI) at 4.5% when compared to the previous value which was seen at 3.9%.

The upcoming US payrolls data forecast for the unemployment rate continues to remain at 4.4%, with the expectation that the household employment rate will stick to its gains.

 
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