US & UK data eyed

April 27, 2018

We round out the week with a day packed-full of data and economic events from around the world.

The USD continued its march against a basket of currencies, sending the major pairs falling. The EUR/USD was steady in early to mid-trading, not showing much movement. In later trading the pair climbed to a session high of $1.22096. It proved to be a false dawn however as it plummeted not long after those highs. In the following two hours, the pair fell one cent, then fell to session lows of $1.20946 in late trading. It is not far off those lows, currently trading at $1.21043. The GBP/USD was more volatile in trading yesterday. After starting the session flat, the pair dropped to lows of $1.38941. It then began its rally shortly afterwards, climbing to highs of $1.39974 a few hours later. Then the USD kicked in. The strengthening USD sent the pair down as far as $1.39019. It has recovered slightly, currently trading at $1.39142.

The Dow had a solid night of trading as company earnings beats instilled some confidence in the US markets. After dipping to lows of 24,052.71 fairly early, the Dow began its march upwards. It eventually peaked in late trading, hitting 24,402.63 before giving up some of those gains. It is currently trading at 24,330.30. The Dax followed the Dow, putting in another strong performance, helped in no small part by a diving euro. It hit session lows of 12,381.40 early then reversed those losses as it climbed to a high of 12,581.10. It has pulled back slightly, where it closed at 12,558.00.

The big news of the day ahead is the US & UK GDP data. As the most significant piece of data to be released that indicates economic growth, markets will be keeping a close eye on these figures. These figures have the potential to affect USD & GBP paired currencies, as well as the Dow, S&P 500, NASDAQ and the FTSE 100. Other data set for release today includes:

Australia – PPI

UK – Nationwide HPI, Index of Services, BoE Governor Mark Carney speaks

Japan – BoJ Policy Rate, BoJ Outlook Report, Monetary Policy Statement, BoJ Press Conference, Housing Starts

US – Advanced GDP Price Index, Employment Cost Index, Revised UoM Consumer Sentiment & Inflation Expectations

Europe – French Consumer Spending & Prelim CPI, Spanish Flash CPI, French & Spanish Flash GDPs, German Unemployment Change, Eurogroup Meetings, SNB Chairman Thomas Jordan speaks


Disclaimer: The information in this website is of a general nature only and the advice has been prepared without taking account of your objectives, financial situation or needs. Accordingly, before acting on the advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs. We recommend you seek independent advice if necessary.