Data deluge rounds out the week
A stack of data will be released today, while the Brexit circus rolls on.
The EURUSD opened at $1.12423 and lifted early, culminating in a high of $1.12605 heading into mid-session trading. The pair then slid over the following few hours until it hit lows of $1.12125. The euro has come off those lows but is struggling at $1.12270. The GBPUSD was belted overnight as the Brexit chaos continues. The pair opened at $1.31838 and reached highs of $1.32111 in the opening hour of trade. It remained steady over the next few hours before the decline set in. Mid and late-session trading saw the pound tumble to lows of $1.30325. It has come off those lows and is currently trading at $1.30535.
The Dow returned to form overnight, posting some solid gains. The index opened at 25,593.89 and fell to lows of 25,504.37 early before rally began. The Dow climbed to highs of 25,741.73 late in the session and is not far of that at the moment, currently trading at 25,725.00. The Dax was pulled up by the Dow overnight, finishing the session strongly. The German index opened at 11,409.69 and dipped to an early low of 11,396.39. The Dax then surged to a high of 11,497.25 an hour or so later before ebbing and flowing for the rest of the day, eventually closing at 11,471.08.
The day ahead sees the release of a plethora of data, while there seems to be a daily vote in the UK parliament over Brexit that is expected to continue. Data released today includes:
Australia – Private Sector Credit
Canada – GDP, RMPI, IPPI
Japan – Tokyo Core CPI, Unemployment Claims, Retail Sales, Prelim Industrial Production, Housing Starts
UK – Brexit Vote, Current Account, Final GDP, Net Lending to Individuals, M4 Money Supply, Mortgage Approvals, Nationwide HPI, Revised Business Investment, GfK Consumer Confidence
US – Core PCE Price Index, Personal Spending & Income, Chicago PMI, Revised UoM Consumer Sentiment & Inflation Expectations, New Home Sales, FOMC Member Randal Quarles speaks
Europe – French & Italian Prelim CPIs, German Retail Sales, German Import Prices, French Government Budget Balance, French Consumer Spending, Swiss KOF Economic Barometer
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