Morning Market Update – Greenback Looks Up

Asian Markets

The Nikkei Flash Japan’s Purchasing Managers Index (PMI) released today and showed that the economic activity increased at a fast rate due to the rising export orders. Japan’s PMI increased to 52.8 in April versus March’s reading of 52.4. The PMI report revealed that the export sector showed a sequential increase in the past four months.

Other Markets

Moving on for the day, we have major releases for France, Euro and Germany with Markit Manufacturing PMI and all of them seem to be mostly in line with their previous data releases. We have a few major data releases for the Canadian Consumer Price Index and Bank of Canada Consumer Price Index Core. They seem to be positive for the Canadian dollar and are forecasted at 0.4% when compared to the previous data at 0.2%.

Later in the day, we have the FOMC Member Kashkari’s speech. Both the Markit Manufacturing PMI and Markit Services PMI are seen with a slight gain and this should boost the greenback.

One of the major releases for the Existing Home Sales are showing good signs for the greenback and are forecasted at 5.6M when compared to the previous data at 5.48M. This should be a strong boost for them as they have not made much progress this week. We end the day with the United States Baker Hughes Oil Rig Count.

 
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