NFP data weaker for March, slightly missing forecast

Significant events to watch:

-USA (USD): USA CPI

-CANADA (CAD): BOC Interest Rate Decision

-UK (GBP): UK Monthly GDP

CANADA (CAD): BOC INTEREST RATE DECISION – Bank of Canada (BOC) governing council members come to a consensus on where to set the rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation. Canada’s current interest rate is set at 4.50%.

The report is due Tuesday, 11 April at 14:00 GMT

USA (USD): USA CONSUMER PRICE INDEX – The Consumer Price Index (CPI) measures the monthly change in prices paid by U.S. consumers. The Bureau of Labor Statistics (BLS) calculates the CPI as a weighted average of prices for a basket of goods and services representative of aggregate U.S. consumer spending. The last CPI (YoY) was 6.0%.

The report is due Wednesday, 12 April at 12:30 GMT

UK (GDP): UK MONTHLY GDP – Gross domestic product (GDP) measures the value of goods and services produced in the UK. It estimates the size of and growth in the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health. Last month’s GDP was 0, better than the forecast of -0.1%.

The report is due Thursday, 13 April at 06:00 GMT

Risers and Fallers

-TESLA Inc. (-0.25%)

-USDJPY (1.97%)

-USOIL (+0.57%)

-Alphabet Inc. (+3.78%)

Tesla Inc. – Tesla’s stock was down 0.25% since Thursday, the stock declined 6.29% in the last 5 days. Tesla announced that they are planning on building a new battery factory, a “Megapack”, in Shanghai. The stock is trading at $185.06.

USDJPY – USDJPY gained 0.76% on Friday, reaching a low of 131.256 and a high of 132.380.

USOIL (WTI Crude Oil) – USOIL increased 0.57%, oil is currently trading at a resistance level and has been unable to break this level since December ‘22. USOIL is trading at $80.91 a barrel.

Alphabet Inc. (NASDAQ: GOOGL) – Alphabet’s stock increased 3.78% on Thursday, reaching a high and low of $109.63 and $104.82, respectively. Analysts are predicting Alphabet’s stock is at a buying point ahead of their Q1 earnings.

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