Economy

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More upbeat news from Australia following the strong Coal, LNG and Iron Ore Export news. Australian AiG manufacturing PMI Index for March surged to a record high 63.1 from 57.5 in February. This was the 18th consecutive month of expansion.

China manufacturing and non-manufacturing purchasing managers indexes for March turned higher with export orders turning back over 50 in the midst of trade war dogma.

Canada's GDP was down 0.1$ in January while posting the largest decline in mining, quarrying, and oil and gas extraction since May 2016.

After a series of weak housing data we get a chance to gage if this is just a breather or we are in for a more servere housing pullback. Ahead are earnings from KB Home $KBH, mortgage applications, house Prices, existing home sales and new home sales.

US February housing starts fell more than expected to 1236K vs 1290K expected, a fall of 7% vs a fall of 2.7% expected. Housing numbers have been falling for a few months after a big jump in 2017 and the Fed rising rates. Permits were also weaker.

Canadian Prime Minister Trudeau loves to complain about Trade Wars as NAFTA negotiations drag on and America launched steel and aluminum tariffs, all be it exempting Canada. Well it turns out Canada's biggest ally, Australia has been the victim of Canadian hypocrital trade barriers on it's wine.

U.S. President Trump announced that Australia would not be subject to the newly implemented American tariffs on steel and aluminum. Australia had used diplomatic pressure to save Australian steel. Trump said he will spare "the great nation of Australia" from the import levy.

February non farm payrolls added 313,000 jobs, the most since July 2016, what will the Fed be looking for in February's Employment report? Hourly earnings came in lower taking pressure off inflation but what of other risks?

President Donald Trump as expected signed into law tariffs on steel and aluminum in a move he feels will recharge American industry. The deal exempts NAFTA partners Canada and Mexico as expected. National security was also cited as part of the decision.

The European Central Bank (ECB) latest forecasts show slightly higher growth this year but lower inflation in 2019. President Draghi in the opening of his statement talked about stronger growth in the ECB to 2.4% from 2.3%.

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