By CountingPips.com
Canada’s Leading Indicators rose for the ninth straight month in February, according to a report from Statistics Canada today. The Leading Indicator Index, which measures future economic activity, increased by 0.8 percent in February following an increase of 0.7 percent in January. The February rise was just below market forecasts looking for an 
increase of 0.9 percent. The index has now increased every month going back to June 2009.
Nine out of ten of the measured sectors that make up the leading indicator index showed increases for the month. Durable goods orders and the housing index index were leading sectors for the month with gains of 6.2 percent and 1.7 percent, respectively. The stock market index rose by 0.4 percent in February while furniture and appliance sales sales gained by 1.2 percent.
Other notable gains were the US Conference Board indicator which rose by 0.8 percent and business & personal services employment which advanced by 0.5 percent for the month. The lone declining indicator for the month was the average workweek index which fell by 0.8 percent.
FOREX: Canadian Loonie mixed in Trading
The Canadian loonie dollar has been mixed today in the currency markets versus most of the major currencies. The Canadian currency has been increasing versus the euro and British pound while trading lower versus the Japanese yen, U.S. dollar and Australian dollar after paring some earlier gains, according to currency data from Oanda. The loonie is trading virtually unchanged against the New Zealand dollar.
USD/CAD 1-Hour Chart – The U.S. dollar has been gaining slightly so far today against the Canadian loonie in some up-and-down trading action. The USD/CAD pair currently trades under the 1.0200 level after rising above this threshold in trading yesterday and earlier today, but both times being rejected lower. The pair trades right at the 200-hour moving average (in black) and in the short-term, the USD/CAD looks to make a move higher if the pair can maintain its position above the 200-hour moving average.
