Significant local and international data set for publication
Today brings a lot of significant data for investors to watch out for and digest, with Australia, the UK and the US all in focus.
The EUR/USD remained steady overnight, a quiet night for markets meant that there wasn’t anything to shift the pair one way for the other. It is currently trading at $1.1769, which is the same level it was at when this blog went to print on Monday. The GBP/USD pair dipped a little, down to $1.3132, likely due to a weakening pound. This could be due to Brexit talk overnight that the UK could still remain a part of the EU. Although that seems to be unlikely, at least in the short term. UK Prelim GDP is set for release tonight, so this figure may make the pair fluctuate.
US stocks all gained ground overnight, with the Dow having a field day after some strong earnings results from some leading companies, such as Caterpillar and 3M. The Dow added 167.80 points (+0.72%), to continue its remarkable run, where it has gained more than 5,000 points in the last 12 months, to close at 23,441.76. The S&P 500 and the NASDAQ were not anywhere near as impressive as the Dow, although they both ended the session slightly ahead. The NASDAQ gained 11.60 points (+0.18%) to 6,598.43, while the S&P 500 closed 4.15 points higher (+0.16%) to 2,569.13.
Gold continues to try and find some friends but it isn’t having much luck, languishing around the high $1,270 and low $1,280 range. It is currently trading at $1,278.30, but it doesn’t know whether it is coming or going as it seems to gain a little, then lose a little.
There is a fair amount of data being released today. The most significant is the Australian CPI and Trimmed CPI, UK Prelim GDP and the US Core Durable Goods Orders. Other data set for publication today include:
Europe – Swiss UBS Consumption Indicator, Credit Suisse Economic Expectations, German Ifo Business Climate
UK – High Street Lending, Index of Services,
US – Durable Goods Orders, HPI, New Home Sales, Crude Oil Inventories
Canada – Overnight Rate, BoC Monetary Policy Report, Boc Rate Statement