A busy week ahead for markets

April 16, 2018

It is shaping up to be quite a busy week ahead for markets, with a number of significant pieces of information set for release, while the airstrike in Syria will ensure plenty of focus remains on activity away from market announcements.

The USD strengthened late in Friday trading, pushing USD-paired currencies. The EUR/USD traded in a fairly tight range. After hitting a high of $1.23451, it fell to a low of $1.23060 a few hours later. It has recovered some of those losses, currently trading at $1.23295. The GBP/USD experienced some some bigger movements than the euro, but basically followed the same pattern. It was mainly flat in early trading, then dropped to lows of $1.42197. It turned around after that, rallying to a high of $1.42962. However, it was unable to hold onto those highs, currently trading at $1.42518.

The Dow posted some solid gains throughout early and mid-session trading, steadily moving to session highs of 24,659.27. It then fell away dramatically in late trading, dropping over 400 points to lows of 24,241.27. It has begun the session today in strong fashion, reversing most of those losses to be currently trading at 24,521.80. The Dax was again led by the Dow, posting strong gains for the first half of the session as it reached highs of 12,527.10. It retreated from those highs as the Dow dropped points. The Dax dropped to lows of 12,396.30 before recovering slightly, closing at 12,448.30.

The week ahead is jam packed with significant announcements. Here’s a look at what is happening today, along with the most significant data for the rest of the week:

Today – US Retail & Core Retail Sales, Empire State Manufacturing Index, Business Inventories, NAHB Housing Market Index, TIC Long-Term Purchases, German WPI, Swiss PPI, UK CB Leading Index, FOMC Member Raphael Bostic speaks

Tuesday – China GDP, Industrial Production, Fixed Asset Investment, Australian Monetary Policy Meeting Minutes, UK Average Earnings Index, US Building Permits

Wednesday – UK CPI, Canadian Overnight Rate, BoC Monetary Policy Report & Rate Statement, US Crude Oil Inventories, NZ CPI

Thursday – Australian Employment Change & Unemployment Rate, UK Retail Sales

Friday – Canadian CPI & Core Retail Sales

 

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