UK data eyed
Another busy day for markets, with plenty of information around for traders to sink their teeth into.
The EUR/USD is currently not far off where it opened yesterday. It opened yesterday at around $1.23795. After remaining flat for the first few hours, it spiked to a high of $1.24136. It fell away over the next few hours, eventually hitting lows of $1.23353. The pair recovered from that point however and is currently trading at $1.23704. The GBP/USD remained flat in early trading where it too spiked to reach a high of $1.43761. It then began to give up all of those gains as it weakened to lows of $1.42816. However, unlike the euro, the pound has not been able to recover those losses. It is not far off those lows, trading at $1.42932.
The Dow put in another solid performance, posting gains for most of the session. The Dow opened at a low 24,600.00 then gained momentum as it peaked at 24,865.49 in late trading. It gave up some of those gains and is currently trading at 24,760.40. The Dax was also a solid performer, posting some strong gains as well. This would have been helped by a rallying Dow and falling euro. The Dax hit a session low of 12,416.60 during the second hour of trading but took off after that. Its rally sent it to a high of 12,616.80, before retracing to its closing price of 12,582.80.
The day ahead sees the release of a good chunk of data, headlined by the CPI figure from the UK. As the UK bumbles its way through Brexit negotiations, these economic figures come into further focus. As a leading indicator of consumer demand, this will be an important figure to keep an eye on. Other data set for release today includes:
Australia – MI Leading Index
Europe – Final CPI & Final Core CPI
NZ – CPI
UK – PPI Input & Output, HPI, Core CPI, RPI
US – Beige Book, Crude Oil Inventories, FOMC Member William Dudley & Randal Quarles speak
Canada – BoC Overnight Rate, BoC Monetary Policy Report, BoC Rate Statement, BoC Press Conference
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