US data eyed

September 25, 2018

A quiet Tuesday ahead as-far-as data goes, but there are still opportunities available for traders.

The EUR/USD is not far off it’s opening price yesterday but there were some big movements in between. The pair opened at $1.17418 and slid to a low of $1.17228 mid-session. The middle of the day saw the pair rally, surging to a high of $1.18143. After hitting that high however, the euro began to sink, giving up most of those gains and is currently trading at $1.17504. The GBP/USD lifted itself off those canvas after collapsing on Friday. The pair opened at $1.30730 and remained flat early, dipping to a low of $1.30619. It recovered from those lows and rallied to a high of $1.31665 late in the session.  It could not hold onto those highs, the pound sliding back to its current level of $1.31140.

The Dow struggled overnight on the back of ongoing trade wars between the US and China. The index opened the week at 26,696.58 and dipped early before recovering and reaching a session high of 26,712.46 late in the day. The Dow then tumbled to a low of 26,551.96 in very late trading. It is currently trading at 26,591.40. The Dax traded in a tight range all session after opening at 12,382.61. The German index then climbed to an early high of 12,411.00. The Dax was not able to hold those highs, falling to a low of 12,342.10 late in the day, then closing at 12,355.10.

The day ahead is headlined by the CB Consumer Confidence figure from the US. Last month showed a reading of 133.4 and it is expected that a figure of 132.2 will be posted this month, denoting a small fall in overall consumer confidence. This has the potential to move markets, particularly if it is a big beat or miss. Other data being released today includes:

Japan – BoJ Governor Haruhiko Kuroda speaks

Europe – German WPI

NZ – Trade Balance

UK – MPC Member Gertjan Vlieghe speaks

US – HPI, S&P/CS Composite-20 HPI, Richmond Manufacturing Index

 

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