Huge week ahead for markets

December 11, 2017

It’s quite a busy week ahead for markets, with plenty of significant events that are sure to cause market volatility.

The EUR/USD is not far off the level that it was at during early trading on Friday. The pair weakened throughout early trading, where it hit a low of $1.17290. However, just after it hit that low, it rallied to highs of $1.17715. It is currently not far off that level, presently at $1.17670. The GBP/USD hit highs of $1.35201 early in Friday trading, before progressively falling away, where it tumbled to lows of $1.33540. It has regained some of those losses as it currently sits at $1.33862.

The Dow continued its return to form. It started a bit shaky, then hit lows of 24,219.28 before bouncing back and headed in an upward direction for the rest of the night. It is currently trading at 24,308.00. The S&P 500 had a more straightforward push upwards. It was at session lows very early in Friday trading before rally throughout the rest of the night where it is now currently at highs of 2,653.22. The NASDAQ was up early, hitting highs of 6,377.03 then falling away to its current level of 6,349.20. The DAX is not far off the level it was at for the start of Friday trading. The stock reached highs of 13,243.15, before dropping back to its current level of 13,162.13. The FTSE went off to the races on Friday, rallying over 60 points off its lows, going from 7,310.05 early to it’s current level of 7,404.90.

Turning to the week ahead and there is plenty of market moving events that traders can sink their teeth into. This is highlighted by interest rate meetings from the US, Europe & UK. The data set for release today and the most significant release for the rest of the week include:

Today – Japanese BSI Manufacturing Index, M2 Money Stock, Prelim Machine Tool Orders, Italian Retail Sales, US JOLTS Job Openings

Tuesday – UK CPI, US PPI, ECB President Mario Draghi speaks

Wednesday – RBA Governor Philip Lowe speaks, UK Average Earnings Index, US CPI & Core CPI, Crude Oil Inventories, Federal Funds Rate, FOMC Economic Projections

Thursday – China Industrial Production, Australian Employment Change & Unemployment Rate, Swiss Libor Rate, SNB Monetary Policy Assessment, UK Retail Sales, UK Official Bank Rate, European Minimum Bid Rate, US Retail & Core Retail Sales, Unemployment Claims

Friday – US Industrial Production, Empire State Manufacturing Index, Capacity Utilisation Rate