Wall-to-wall announcements cater to just about every trader

September 8, 2017

Plenty of data announcements throughout the day will keep traders interested, with information released all around the world.

The EUR/USD pairing fluctuated last night as the ECB met to discuss interest rates. The ECB left rates steady at 0% amid mixed economic conditions. However, ECB President Mario Draghi’s speech was seen as dovish when talking about the economic outlook of the EU. This meant that it was more likely that current monetary policy settings would remain in place (ie, low rates and the ECB’s bond buying program). This announcement and the weaker than expected Unemployment Claims figures from the US combined to send the Euro back into the $1.20 range, where it currently sits at $1.2024.

Gold rallied strongly overnight to get reach as high as $1,354.30. It is now currently $1,352.90.  This is partly due to the weakening of the USD, meaning gold becomes more valuable. Oil continued its strong performance of late, sitting at around $49.11 currently. This was helped by the inventory build in the US.

US stocks finished mainly flat at the end of the trading session, with both the Dow Jones and the S&P 500 down ever so slightly (-0.1% and -0.02%), while the NASDAQ finished slightly up, with a 0.07% gain. The European markets all made modest gains, with the DAX once again being the best performer, churning out an 82.09-point gain, or 0.67%. On the other hand, Italian stocks (FTSE MIB), finished in the red, down 92.05 points or -0.42%.

Looking ahead to today and into the weekend, there’s a whole swathe of announcements. These include:

Japan – Final GDP, Bank Lending, Current Account, Final GDP Price Index, Economy Watchers Sentiment

Australia – Home Loans, RBA Gov, Philip Lowe & RBA Assistant Gov, Guy Debelle, speak

China – Trade Balance, USD-Denominated Trade Balance, CPI, PPI

Europe – Swiss Unemployment Rate, German Trade Balance, French Gov Budget Balance & Industrial Production

UK – Manufacturing Production, Goods Trade Balance, Construction Output, Consumer Inflation Expectations, Industrial Production, NIESR GDP Estimate

Canada – Employment Change, Unemployment Rate, Capacity Utilisation Rate

US – Final Wholesale Inventories, Consumer Credit. Meanwhile, Fed Reserve Member, Patrick Harker, is due to speak.