Friday saw the Canadian dollar finish a great week, thanks to the release of strong Canadian employment and housing reports. Canadian unemployment maintained its position for March as expected, staying at 6.8%, whilst Canadian housing starts rose by 187,700 units last month – higher than the anticipated figure of 175,000.
In China, Consumer Price rose 1.4% year on year in March, just a fraction above the figure expected by analysts. This ultimately saw an impact on China’s second largest export partner, Australia. The Australian dollar reacted by jumping almost quarter of a percent against the US dollar. This week we have a whole raft of Chinese data; trade numbers today, gross domestic product, industrial production and retails sales all on Wednesday followed by fixed asset investment, all of which could have an impact as the state of the Chinese economy has a huge impact on other economies and their exchange rates.
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