Busy week ahead for traders
Another hectic week for traders with a plethora of data slated for release.
The Euro was off to the races on Friday, rallying more than a cent against the USD. The EUR/USD dipped as low as $1.18353 before rocketing to well over $1.19, where it got as high as $1.19442, before retracing slightly to its current level of $1.19320. The GBP/USD was more of a roller coaster ride. The pair weakened to $1.32773, before climbing almost a cent, to $1.33595, then fell to $1.32224.
US were a mixed bag, with the NASDAQ and S&P 500 outperforming their more illustrious Dow counterpart. The Dow, nevertheless, rallied almost 100 points off its lows of 23,502.34. It climbed as high as 23,596.90, before giving up over half of its gains, where it currently sits at 23,542.50. The NASDAQ was on an upward trajectory for most of the night, going from 6,376.97 up to 6,409.50. It was the same story for the S&P 500, going from 2,595.28 to 2,602.60. The DAX was unpredictable in Friday trading, where it rallied over 150 points from its lows of 12,977.21 to reach as high as 13,163.08. From there, it fell almost 100 points to its current level of 13,066.00. The FTSE ended trading stronger, added around 30 points from its lows. The stock fell as low as 7,386.66 before recovering to 7,416.68.
Looking ahead to today and the rest of the week and there is plenty of data for traders to digest. The announcements today and the most significant announcements for the rest of the week include:
Today – Japanese SPPI, Italian Consumer & Business Confidence, EU Financial Stability Review
Tuesday – UK Bank Stress Test Results, BoE Financial Stability Review, US Consumer Confidence
Wednesday – OPEC Meetings, US Prelim GDP, US Crude Oil Inventories, Fed Chair Janet Yellen Testifies
Thursday – Australian Private Capital Expenditure, US Unemployment Claims
Friday – UK Manufacturing PMI, Canadian GDP, US ISM Manufacturing PMI