The week ahead

March 26, 2018

The week ahead contains plenty of data releases, while many markets will be closed later in the week as countries observe Good Friday.

The EUR/USD ended the session stronger on Friday as concerns about the US economy remained. The pair hit session lows of $1.23161 early before posting some solid gains to reach a high of $1.23728.  It is not far off those highs at the moment, currently trading at $1.23646. The GBP/USD followed a similar trend. After falling to session lows of $1.40837 early, it climbed until it peaked at $1.41704. The pound has come back a bit since then, now trading at $1.41490.

The Dow remains unstable and continues to be battered from pillar to post after another woeful session. The Dow was building slowly but surely, trading in a tight range, climbing to highs of 24,110.05 before volatility kicked in. It dropped around 270 points, gained all of that back, then plummeted over 600 points to reach session lows of 23,504.70. It has rebounded of those lows slightly, sitting at 23,630.00 in early morning trading. The Dax continues to be hampered by an under-performing Dow. It hit session highs of 12,005.47 before being constrained and suffocated by the Dow, the market’s version of a wet blanket. It fell around 250 points to lows of 11,757.47. It is near those lows at the moment, trading at 11,778.97.

The week ahead should ensure volatility continues, especially as markets remain quick weak and on an unsure footing. Data set for release today and the most significant data this week includes:

Today – UK High Street Lending, German Buba President Jens Weidmann, FOMC Members William Dudley and Loretta Mester are due to speak

Tuesday – US CB Consumer Confidence, FOMC Member Randal Quarles speaks

Wednesday – US Final GDP, Crude Oil Inventories

Thursday – UK Current Account

Friday – China Manufacturing & Non-Manufacturing PMIs, NZ, Australia, Swiss, German, Canadian & UK bank holidays.


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