European data in focus

October 24, 2018

Plenty of data set for release today from around the world, with the most significant emanating from Europe.

The EUR/USD remained largely flat throughout the trading day. The pair opened at $1.14630 and traded in a tight range for the early part of the session before dipping to lows of $1.14379. It bounced off those lows and remained steady throughout mid-session trading, then hit a high of $1.14928 late in the day. It is currently trading at $1.14717. The GBP/USD made some ground overnight. After opening at $1.29268, it too remained steady in early trading, then dropped to lows of $1.29362. The pound rallied off those lows to peak at $1.30432 a few hours later. It could not hold onto those gains and gave most of them up where it remained flat in late trading. The pair is currently trading at $1.29815.

The Dow had a disappointing session but showed some signs of life late. The index opened at a high 25,318.63 and declined for most of the session, falling to a low of 24,766.30. The Dow rallied from that point however, climbing as high as 25,297.93. It is not far off that mark, currently trading at 25,253.50. The Dax opened almost 200 points lower than the previous session and fell to lows of 11,223.60 early. It lifted off those lows and remained steady before rallying to highs of 11,432.90 in the last hour of trading, eventually closing at 11,389.10.

The day ahead sees the release of a host of data from around the world, with the most significant being the PMI data from various European countries. Canada will also be publishing its interest rate decision. This data, along with other data being released today includes:

UK – High Street Lending

NZ – Trade Balance

Japan – Flash Manufacturing PMI

Canada – Overnight Rate, BoC Rate Statement & Monetary Policy Report, BoC Press Conference


US – Flash Manufacturing & Services PMIs, HPI, New Home Sales, Crude Oil Inventories, Beige Book, FOMC Members Raphael Bostic, Loretta Mester and Lael Brainard speak

Europe – European, German and French Flash Manufacturing PMIs, European, German and French Flash Services PMIs, European Private Loans, European M3 Money Supply, Belgian NBB Business Climate


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