ADP Non-Farm figure eyed
Plenty of data for markets to sink their teeth into, both locally and internationally.
The EUR/USD went on a roller coaster ride yesterday as it peaked early yesterday at $1.18760. It then progressively dropped to $1.18408 before kicking back up to $1.18736 then fell away over the next few hours to eventually hit session lows of $1.1800 before rebounding to where it is currently trading at $1.18269. The GBP/USD was looking steady throughout trading then it dropped more than a cent over a 3-hour period. It hit session lows of $1.33686 before recovering most of those losses to its current level of $1.34423.
The Dow started the session solidly, reaching session highs early yesterday of 24,386.50. It then remained somewhat stable for the next few hours, where it then fell away in overnight trading, hitting lows of 24,149.82. It has recovered ever so slightly to 24,179.80. The NASDAQ had a somewhat wild night, steadily losing ground until hitting session lows of 6,228.36 then performing a 180 degree turn and began to climb to session highs of 6,337.24. It fell away after that high, falling 70 points to its current level of 6,266.70. The S&P 500 ebbed and flowed throughout early trading, before peaking at 2,649.04 where it the steadily declined to lows of 2,627.31. It is now slightly above session lows, currently at 2,627.99. The DAX ebbed and flowed throughout the night, reaching a high of 13,094.18 and then hitting session lows of 12,957.39. It has since recovered somewhat as it is currently trading at 13,005.73. The FTSE started the session well, peaking at 7,371.58, but dropping away from that point onwards. Session lows were 7,305.24. It has recovered slightly to 7,306.50.
Looking ahead to today and there are two significant data releases. First up is the GDP figure from Australia. This figure is likely to affect AUD currency pairs. The other significant figure is the ADP Non-Farm Payrolls data. This is important jobs-related data that gives an indication of the strength of the economy. Other data set for release today include:
Canada – Overnight Rate, BoC Rate Statement, Labour Productivity
Europe – Swiss CPI, European Retail PMI, German Factory Orders
US – Revised Non-Farm Productivity, Revised Unit Labour Costs, Crude Oil Inventories