European data awaited
A data-packed day ahead with plenty of information emanating from around the world, but it is Europe where markets will focus their attention.
The Euro struggled last night against major currencies. The EUR/USD pair started climbing higher, reaching as high as $1.18819 before tumbling as low as $1.18152. After hitting lows, the pair ebbed and flowed as it regained some of those losses. It is currently trading at $1.18517. The GBP/USD took off last night as it ventured deep into $1.34 territory. It went from lows of $1.33545 all the up to $1.34475 before paring back some of those gains. It is currently trading at $1.34122.
The Dow had a field day overnight, getting within striking distance of 24,000. The Dow started at 23,802.00, then climbed as high as 23,956.31. It is currently sitting at 23,933.00. The S&P 500 had a few peaks and troughs, but largely remained unchanged as it returned to the levels it started the night at. It is currently trading at 2,626.44. The NASDAQ on the other hand, copped a belting overnight, falling over 140 points from its highs. It fell from its high of 6,422.55 to its low 6,278.93. It bounced back slightly, to where it currently is trading at 6,303.80. The DAX fell from highs of 13,195.34 to lows of 13,028.85 before rebounding to 13,058.71. The FTSE copped a belting as well, falling as much as 90 points, then climbing off those lows by adding 30 points. It is currently trading at 7,385.90.
Gold fell off a cliff overnight, falling from highs of $1,296.54 to $1,282.03. It has since showed signs of life, as it is currently trading at $1,284.14.
Turning to today’s events and the most significant data is emanating from Europe. The European CPI Flash Estimate figure is what Euro traders will be watching with keen interest. CPI is vital for economic growth as Europe continues its economic recovery. Other data set for release today includes:
Japan – Housing Starts
Australia – HIA New Home Sales, Private Capital Expenditure, Building Approvals, Private Sector Credit
New Zealand – ANZ Business Confidence
China – Manufacturing & Non-Manufacturing PMIs
Canada – Current Account
UK – GfK Consumer Confidence, Nationwide HPI
US – Unemployment Claims, Core PCE, Personal Spending, Personal Income, Chicago PMI, Natural Gas Storage, Fed Reserve Members Randal Quarles & Robert Kaplan are due to speak
Europe – Swiss GDP & KOF Economic Barometer, Swiss Retail Sales, German Retail Sales, French Prelim CPI, German Unemployment Change, Italian Monthly Unemployment Rate, European Core CPI Flash Estimate, Italian Prelim CPI, European Unemployment Rate