Attention turns to Mark Carney and UK data
A smorgasbord of announcements from around the world today will keep traders of most instruments keenly watching markets, with the UK releasing the most significant data of the night.
The USD stalled in its recovery overnight as questions were raised over the Trump administration’s tax plan. The EUR/USD pairing is still trading in the $1.17 range, but it has retreated back from the $1.1744 it peaked at overnight. It is currently trading at $1.1779.
US stocks ended the session rather flat, although they all post slight gains. The Dow was the best of a flat bunch, up 40.49 points (+0.18%) to 22,381.20. The S&P 500 gained 3.02 points (+0.12%) to close at 2,510.06, while the gains by the NASDAQ were negligible, up 0.19 points (+0.001%) to 6,453.45. European stocks all finished higher overnight, the DAX up 47.24 points (+0.37%) to close at 12,704.65, while the FTSE gained a modest 9.31 points (+0.13%) to end the session on 7,322.82.
Gold continued to be friendless as investors sought the higher returns that equity brings, hovering around the high $1,280 mark, where it is currently trading at $1,289.60.
Looking ahead to today and tomorrow morning and there’s plenty of data to look forward to. BoE Governor Mark Carney is due to speak. It will be important to hear his thoughts on the UK economy, particularly as Brexit negotiations continue. UK Current Account data is the most significant data to be released tonight.
It is also important to note that China will have public holidays all of next week as they celebrate Golden Week, so traders should check to see if they have any open trades that might be affected by this.
Other figures set for publication include:
Japan – Housing Starts
Australia – Private Sector Credit
China – Caixin Manufacturing PMI, Manufacturing PMI, Non-Manufacturing PMI, Golden Week in China all of next week.
UK – Final GDP, Net Lending to Individuals, M4 Money Supply, Mortgage Approvals, Revised Business Investment, Nationwide HPI, MPC Member Be Broadbent is due to speak
Europe – German Retail Sales, French Consumer Spending, French Prelim CPI, German Unemployment Change, Swiss KOF Economic Barometer, European CPI & Core CPI Flash Estimate, Italian Prelim CPI
Canada – GDP, RMPI, IPPI
US – Core PCE Price Index, Personal Spending, Personal Income, Chicago PMI, Revised UoM Consumer Sentiment & Inflation Expectations, Fed Reserve Member Patrick Harker is also due to speak