Canadian data are generally disappointingly. GDP contracted -0.1% mom in January versus expectation of 0.1% mom. IPPI rose 0.1% mom in February versus expectation of 0.4% mom. RMPI dropped -0.3% mom versus expectation of 2.8% mom rise.
US personal income rose 0.5% in February, spending rose 0.2% and both met expectations. Headline CPI accelerated to 1.8% yoy while core PCE also accelerated to 1.6% yoy.
Initial jobless claims dropped -12k to 215k in the weekended March 254. That’s notably below expectation of 231k. That’s also the lowest level since January 1973.
Four week moving average of initial claims dropped 0.5k to 224.5k.
Continuing claims rose 35k to 1.87m in the weekended March 17.
There’s a bit of spikes on both direction after the releases. But that’s it as USD/CAD quickly settle back into today’s tight range.
