Market Comment - 15th April 2021

Posted by Stuart PritchardApril 15, 2021

Good afternoon,

It was a very quiet day on the macro economic calendar yesterday, meaning currency pairings of note traded within a very tight range.

The only data release of any note yesterday was industrial production data for the Eurozone, covering the month of February.  The figures showed that output slowed by 1% during the second month of the year but it had minimal effect on the single currency price.

Over in the US, there was a landmark listing on the Nasdaq, as cryptocurrency exchange Coinbase debuted with a top end market value of $65.4 billion (USD) during the trading session. That price meant it was more valuable than oil giant BP!

Today will see a busy day for the US data wise, with a full calendar of releases.

We will see readings for retails sales and industrial production data both for the month of March as well as well as an update on the US labour and housing markets.

Retail figures are expected to jump by 5.9% in a strong forecast, as consumers loosen their purse strings following the recent fiscal transfers, whilst industrial production is forecasted to post a bullish rise of 2.8% following a 2.2% decline in February.

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Todays Economic Calendar 

Thurs 15th GER: 07:00 Final HICP (March) 
FRA: 07:45 Final HICP (March) 
ITA: 09:00 Final HICP (March) 
IRL: 11:00 Residential Property Prices (February) 
US: 13:30 NY Fed / Empire State Index (April) 
US: 13:30 Initial Jobless Claims (w/e 5th April) 
US: 13:30 Philly Fed Index (April) 
US: 13:30 Retail Sales (March) 
US: 14:15 Industrial Production (March) 
US: 15:00 NAHB Housing Sentiment (April)

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