Data-rich week of announcements

November 20, 2017

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