Huge week ahead for markets
A swathe of data set for release throughout the week, with plenty of market volatility expected.
The EUR/USD tried to regain some of the losses it sustained last week, starting the session at lows of $1.23715. It steadily climbed to session highs of $1.24928 before falling away, currently trading at $1.24174. It was the same story for the GBP/USD pair. It started the session at lows of $1.41122 and then reached highs of $1.42864, before giving up most of those gains to be currently trading at $1.41327.
The Dow had a mainly stable session on Friday, except the last 2 hours of trading. It gained as much as 125 points from its lows of 26,400.00. Shortly before close, the Dow rocketed up over 120 points again, hitting highs of 26,627.74, before coming back off those highs ever so slightly. It is currently trading at 26,607.40. The Dax had a fairly flat night of trading, reaching session lows of 13,263.40 early before steadily regaining some of the losses it sustained earlier in the week. It is currently trading at 13,388.15.
Looking at the week ahead and there is plenty of activity from around the world, with the majority of crucial economic data emanating from the US. The most significant data this week includes:
Today – US Core PCE Price Index & Personal Spending
Tuesday – European Flash GDP, US CB Consumer Confidence, BoE Governor Carney speaks
Wednesday – Australian CPI & Trimmed Mean CPI, Chinese Manufacturing & Non-Manufacturing PMIs, Donald Trump speaks, US ADP Non-Farm Employment Change
Thursday – US Crude Oil Inventories, US Federal Funds Rate & FOMC Statement, US ISM Manufacturing PMI, UK Manufacturing PMI
Friday – UK Construction PMI, US Non-Farm Employment Change, Unemployment Rate & Average Hourly Earnings