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Market Update

EncoreFX’s daily market updates are written by our experienced and professional dealing team.

US PPI Data Expected to Rise | EU Grants UK Brexit Extension

Published April 11, 2019



• This morning the International Energy Agency cautioned in a report that falling demand for crude could become a bigger issue for the rest of the year. A barrel of West Texas Intermediate was trading at $63.90 earlier this morning.
• The loonie has slipped against the greenback this morning with USDCAD trading at 1.3380 up 0.33% on the day. The US will release producer price index reports, with PPI expected to rise to 0.3% and Core PPI forecasted to improve to 0.2%. US unemployment claims will also be published this morning which is projected to rise to 210,000.
• The EU has granted the UK an extension to exiting from the economic bloc with the deadline moved to October 31. The delay will mean that Prime Minister May’s leadership position will come under further pressure as members of her party will see the risk of no Brexit at all increasing in light of the new delays.
• European Central Bank policy makers have agreed that euro-zone economic growth has held up in line with their official forecasts despite weak data. The Governing Council of the central bank met yesterday and continued to voice a skeptical outlook over the prospects of a pickup in the second half.