Guess which country is releasing some crucial economic data?

February 13, 2019

A stack of data is being released today, with the UK in the firing line again.

The EURUSD opened at $1.12742 and remained flat early before dropping to a low of $1.12563 heading into mid-session trading. A weakening USD saw the pair rally to a high of $1.13391 late in the session. It is close to those highs, currently trading at $1.13270. The GBPUSD followed a similar path to the euro after opening the day at $1.28560. Mid-session trading saw the pair fall to a low of $1.28313. The pound then rebounded and surged to a late high of $1.29086 and is currently trading at $1.28956.

The Dow performed strongly overnight, buoyed by the news that a government shutdown will be avoided. The index opened at 25,031.88 and dipped to an opening hour low of 25,025.51. The Dow rallied for the majority of the day, peaking at 25,464.18 late. It is not far off those highs, currently trading at 25,446.21. The Dax opened higher but remained flat throughout the day. It opened at a low of 11,083.52 and climbed to a high 11,163.52 a few hours later. The German index remained steady for the rest of the day, closing at 11,144.02.

The day ahead sees the release of crucial CPI data from the UK. This data comes further into focus considering the disastrous economic data that was released earlier in the week. The year-on-year CPI is expected to hit 1.9%, down from 2.1% at the last reading. The UK government will be hoping for a strong figure as the “Brexit-effect” looks to be setting in, which has been brought about by constant uncertainty and lack of political decisiveness.

Other data released today includes:

Europe – Industrial Production

UK – PPI Input & Output, Core CPI, HPI, RPI

US – CPI & Core CPI, Crude Oil Inventories, Federal Budget Balance, FOMC Member Esther George speaks

NZ – Official Cash Rate, RBNZ Rate Statement, Monetary Policy Statement and Press Conference, RBNZ Governor Adrian Orr speaks

 

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