ECONOMIC INDICATORS
RECOMMENDATION
Short below 0.7208 with 0.6982 as Target, and 0.7377 as Stop Loss
- New Zealand’s consumer prices increased 0.5 percent on quarter in the first quarter of 2018, up from 0.1 percent recorded in the previous period and matching market expectations. The quarterly jump was mainly explained by a 0.5 percent rebound in the food group (vs -1.7 percent in the previous quarter) and by a 4.3 percent climb in the alcoholic beverages & tobacco group, in turn triggered by the annual tobacco tax increase on 1 January 2018, with prices up 11 percent. In contrast, prices in the transport group fell 0.2 percent after jumping 3.2 percent in the previous quarter. Cost of housing and utilities went up 0.6 percent, the same as in the previous period. On an annual basis, consumer prices rose by 1.1 percent following a 1.6 percent increase in the previous quarter, also matching market expectations.
- The number of Americans filing for unemployment benefits fell by 1 thousand to 232 thousand in the week ended April 14th 2018, slightly above market expectations of 230 thousand. It follows an unrevised 233 thousand in the previous week. According to unadjusted data, the biggest declines in initial claims were seen in New Jersey (-6,000), Pennsylvania (-2,733) and Texas (-2,413) while the main rises were recorded in NY (+15,439), California (+4,902) and Connecticut (+2,269). Claims taking procedures in Puerto Rico (-408) and in the Virgin Islands (0) have still not returned to normal.
RECOMMENDATION
Short below 0.7208 with 0.6982 as Target, and 0.7377 as Stop Loss