On Thursday, May 9, 2019, the markets will be interested in announcing the economic calendar data, which usually results in changes in price movements. The economic agenda is a key tool for the basic analysis of the news of the markets’ performance. Therefore, caution must be taken to determine the results of these actual data to make the right trading decision. The economic news today is:
Canada's Trade Balance: In Canada, the trade deficit narrowed to C$ 2.90 billion in February after a revised reading of the previous month down to C$ 3.09 billion. Analysts had expected the trade deficit to reach 3.5 billion Canadian dollars. Imports fell 1.6% month-on-month, driven by a drop in gold purchases. Exports fell 1.3 percent due to lower sales of non-oil products.
Federal Reserve Governor Jerome Powell comments: The chairman of the Federal Reserve Board is due to deliver the opening remarks at the Fed Development Community Development Conference in Washington, DC.
US PPI: In the US, producer prices rose 0.6 percent month-on-month in March, following a 0.1 percent increase in February. The March reading exceeded analysts' expectations of 0.3 percent. It was the biggest increase since last October. Commodity prices jumped 1.0 per cent, supported by a 5.6 per cent increase in energy costs. In addition, service prices rose by 0.3 percent. The core PPI, excluding energy and food, rose 0.3 percent from the previous month, after a 0.1 percent gain in February. The Core PPI reading also exceeded analysts' expectations of 0.2%.
Expectations for April 2019: PPI and PPI are expected to record 0.2%