Data deluge this week

August 27, 2018

A swathe of data set for release this week should ensure some volatility for markets.

The EUR/USD put in a strong performance on Friday, gaining as much as 1 cent throughout the session. The pair opened at $1.15348 and dipped to an early low of $1.15338. It was mainly up from there, as the euro climbed and then sharply rallied late in the session to a high of $1.16395. It came off those highs but still traded near those levels for the rest of the session. It is currently trading at $1.16323. The pound also strengthened last Friday after opening at $1.28045. The GBP/USD fell to an early low of $1.27983 before turning around and rallying until it peaked at $1.28804. It fell away from those late highs and is currently trading at $1.28542.

The Dow put in a solid performance after opening at 25,675.28. The index dipped to a low of 25,652.05 shortly afterwards before turning 180 degrees and rallying for most of the session. The Dow hit highs of 25,822.41 late, but then retraced and closed at 25,785.14. It has opened higher and is currently trading at 25,859.80. The Dax was involved in some wild swings after opening at 12,382.86. From that point, it dipped slightly, then rocketed to a high of 12,445.90 before falling to near session lows of 12,359.03. It briefly rallied and then fell sharply to a low of 12,341.90 mid-session. It climbed of those lows to close at 12,400.30.

The week ahead is packed full of data. The data released today and the most significant release this week include:

Today – German Ifo Business Climate, UK bank holiday

Tuesday – US CB Consumer Confidence

Wednesday – US Prelim GDP, US Crude Oil Inventories

Thursday – NZ ANZ Business Confidence, Australian Private Capital Expenditure, Canadian GDP

Friday – European CPI & Core CPI Flash Estimate, China Manufacturing & Non-Manufacturing PMIs


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.