Data-rich week of announcements
Plenty of data set for release throughout the week, meaning there could be some volatility around for traders.
There was some movement around the EUR/USD pair last Friday as we headed into the weekend. The pair dropped as low as $1.1764 and peaked as high as $1.1821. It is currently trading at $1.1793. With scores of US and European data, along with central bank speakers, we are sure to see more volatility this week. The story of volatility was the same with GBP/USD. It was trading at around $1.3187, climbed up as high as $1.3259, then a sell off sent the pair to lows of the session ($1.3168), before recovering most of those losses. It is currently trading at $1.3220.
US stocks were belted once again on Friday, the Dow shedding 100.12 points (-0.43%) to end the session at 23,358.24. The S&P 500 dropped 6.79 points (-0.26%) to close at 2,578.85. The NASDAQ was the best of the worst, shaving 10.50 points (-0.15%) to close at 6,782.79. European stocks weren’t much better, the DAX falling 53.49 points (-0.41%) to close at 12,993.73 while the FTSE ended flat, down 6.26 points (-0.08%) to end the session at 7,380.68.
Gold rallied somewhat in late Friday trading, going from lows of around $1,278.06 to its peak of $1,296.75. It is currently trading at $1,292.44.
A look at the week ahead and there is plenty of data set for release. The data set for release today and the most significant data/events for the week ahead includes:
Today – Japanese Trade Balance, German PPI, German Buba Monthly Report, US & China CB Leading Index, ECB President Mario Draghi & MPC Member David Ramsden speak
Tuesday – Australian Monetary Policy Meeting Minutes, RBA Governor Philip Lowe speaks, UK Inflation Report Hearings
Wednesday – US Core Durable Goods Orders, US Unemployment Claims, US Crude Oil Inventories, FOMC Meeting Minutes, UK Autumn Forecast Statement, Fed Chair Janet Yellen speaks
Thursday- European, German and French Flash Manufacturing & Services PMIs, UK Second Estimate GDP, US & Japanese public/bank holidays
Friday – Canadian Core Retail Sales, German Ifo Business Climate