This week’s market events:
Stay informed and prepared with the following updates
CAD Consumer Price Index (YoY)(Apr):
The Consumer Price Index (CPI), released by Statistics Canada on a monthly basis, represents changes in prices for Canadian consumers by comparing the cost of a fixed basket of goods and services. The YoY reading compares prices in the reference month to the same month a year earlier. Generally, a high reading is seen as bullish for the Canadian Dollar (CAD), while a low reading is seen as bearish.
GBP Consumer Price Index (MoM)(Apr):
The United Kingdom (UK) Consumer Price Index (CPI), released by the Office for National Statistics on a monthly basis, is a measure of consumer price inflation – the rate at which the prices of goods and services bought by households rise or fall – produced to international standards. It is also the inflation measure used in the government’s target. The MoM figure compares the prices of goods in the reference month to the previous month. Generally, a high reading is seen as bullish for the Pound Sterling (GBP), while a low reading is seen as bearish.
NZD Retail Sales (QoQ)(Q1):
The quarterly release of Retail Sales by the Statistics New Zealand directly reflects on the country’s consumer spending. Stronger sales could drive inflation higher, leading the Reserve Bank of New Zealand (RBNZ) to hike interest rates so as to maintain its inflation-containment mandate. Thus, the indicator impacts the New Zealand dollar significantly. A better-than-expected print tends to be NZD bullish. The data is published about a month and a half after the quarter ends.
USD S&P Global Services PMI(May):
The S&P Global Services Purchasing Managers Index (PMI) is a monthly indicator of US service sector activity. It’s derived from surveys of senior executives, indicating economic expansion (above 50) or contraction (below 50). This data is crucial for gauging overall economic conditions and can anticipate trends in GDP, industrial production, employment, and inflation, influencing the US Dollar (USD) accordingly.
