Hectic week ahead for markets

April 30, 2018

Plenty of activity this week should ensure quite a bit of volatility and also opportunity.

The EUR/USD ended the week slightly higher than its opening price on Friday. It began Friday at $1.21036 before weakening mid-session. It reached lows of $1.20540, then staged a turnaround. It eventually peaked at $1.21325, then gave up some of those gains. It is currently trading at $1.21202. The GBP/USD started the session reasonable flat, opening at $1.39126. The pair then dropped off steadily through mid-session trading. A bad miss on the UK GDP did not help the pound either. It fell to lows of $1.37454. It has recovered slightly but it seems entrenched in $1.37 territory, currently trading at $1.37707.

The Dow showed some signs of instability, gaining in value, then falling away, as the battle continued between buyers and sellers. The Dow peaked at 24,358.01 then fell away an hour later to reached lows of 24,190.64. It rebounded to close at 24,322.25. It has opened higher this morning, currently trading at 24,352.30. The Dax remained quite stable, helped by a weak euro. The Dax peaked at 12,633.50 mid-session, then dropped to lows of 12,521.00 an hour later, following the pattern of the Dow. It regained some of those losses to close at 12,593.90.

The week ahead is quite a busy one, with a deluge of data to hit markets all throughout the week. Plenty of significant data is set for release as well. The data set for release today and the most significant data published this week includes:

Today – Australian HIA New Home Sales, Private Sector Credit, AIG Manufacturing Index, RBA Governor Philip Lowe speaks, German & Italian Prelim CPI, German Retail Sales, Swiss KOF Economic Barometer, European M3 Money Supply & Private Loans, Canadian RMPI & IPPI, US Core PCE Price Index, Personal Spending, Personal Income, Chicago PMI, Pending Home Sales, Japan & China bank holidays

Tuesday – Australian RBA Rate Statement, UK Manufacturing PMI Canadian GDP, BoC Governor Stephen Poloz speaks, US ISM Manufacturing PMI, NZ Employment Change & Unemployment Rate

Wednesday – UK Construction PMI, US ADP Non-Farm Employment Change, Crude Oil Inventories

Thursday – US Federal Funds Rate, FOMC Statement, Australian & Canadian Trade Balance, US ISM Non-Manufacturing PMI, SNB Chairman Thomas Jordan speaks

Friday – RBA Monetary Policy Statement, US Non-Farm Employment Change, Average Hourly Earnings and Unemployment Rate


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