CANADA DATA: Wholesales -0.2% In Dec Led By Machinery
Feb-14 14:03
- In Dec. sales ex-petroleum & grains -0.2% MOM, below StatsCan's advance estimate for +0.1% MOM led by machinery and building materials; +0.6% YOY.
- Sales volume -0.8% in Dec.
- Wholesales in 2024 +0.2% to CAD994.5B led by personal and household goods while lower sales in autos partially offset gains.
- In a separate report, Canada manufacturing sales in 2024 -2.1% after three consecutive yearly gains. Decline was led by transportation equipment and petroleum. Autos saw the largest yearly decline last year -11%.
- In Dec. +0.3% MOM below +0.6% flash estimate. The increase was led by petroleum, food and metals. This was partially offset by weaker autos.
- Q4 factory sales +1.6% after four prior declines.
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FOREX: AUDUSD Extends Recovery, Rises Above 20-day EMA
Jan-15 14:02
- The strong performance for equities in the aftermath of the data has helped AUDUSD extend its recovery to 1.82% from cycle lows printed earlier in the week. The latest 45 pip bounce sees the pair pierce above initial 20-day EMA resistance, which intersects today at 0.6236.
- While a bearish trend remains intact overall, these favourable dynamics could prompt a stronger correction, targeting the 50-day average is at 0.6351.
- Rabobank have said that on the approach of Trump’s inauguration next week, the market has started to question if it has priced-in too much inflation risk into US assets. This suggests scope for profit-taking in USD long positions which could limit downside potential in AUD/USD near-term.
- Despite this, on anticipation that USD strength will be a theme of the year ahead and with Chinese economic headwinds still in focus, Rabo see risks of a move to 0.6000 in AUD/USD around the middle of 2025.
MNI EXCLUSIVE: MNI: Energy Little Threat To ECB’s Inflation Target- Officials
Jan-15 14:00
European Commission and Eurosystem sources assess the inflationary risks stemming from gas prices.-On MNI Policy MainWire now, for more details please contact sales@marketnews.com
SCHATZ: Block trade
Jan-15 14:00
Schatz Block trade, suggest Buyer:
- DUH5 ~10.6k at 106.59.
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