Keep an eye on the important release for the loonie
The level of GDP growth for Canada will be published on June 28, at 15:30 MT time.
American factory activity speeds down
A gauge of American factory activity rebounded from a more than 14-year maximum in September because surge in fresh orders decelerated, although supply bottlenecks eased, dropping a hint at a stable tempo of expansion in US manufacturing.
Other Monday’s data disclosed a minor surge in construction spending in August in the face of weakness in investment in private residential as well as nonresidential projects. Evidently, the report didn’t do a lot to change views of firm economic surge in the third quarter.
In addition to this, the Institute for Supply Management told that its index of national factory activity lost 1.5 points to a result of 59.8 in September from 61.3 in August that turned out to be the highest reading since May 2004. An outcome above 50 hints at surge in manufacturing, which amounts to 12% of the American economy.
US leader’s "America First" trade stance has left America embroiled in a fierce trade conflict with China as well as tit-for-tat import levies with other trading partners, including Canada, the European Union, and Mexico.
The previous week the US government imposed levies on $200 billion worth of China’s products, with the Chinese authorities responding with tariffs on $60 billion worth of American products. By the way, China and America had already put tariffs on $50 billion worth of each other's exports.
As a matter of fact, the ISM's new orders sub-index went down to an outcome of 61.8 in September from August’s reading of 65.1. The poll’s factory employment measure ascended to 58.8, which happens to be the highest outcome since February.
American equities managed to ascend because market participants generally appreciated the trade pact between Mexico, Canada, and the United States. The evergreen buck strengthened marginally versus a group of currencies, while American Treasury yield added.
Similar
Market updates on June 26
Read and find out the market movers
The GDP growth may push the USD up
The United States will release the level of final GDP growth on June 27, at 15:30 MT.
Latest news
British inflation tacks on for the first time this year
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
Evergreen buck heads north
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
Gold sinks on soaring greenback
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…
Deposit with your local payment systems
