Markets keenly wait on US data
A big day coming up for markets where attention turns to the US and the release of crucial economic figures.
The USD weakened overnight, allowing paired currencies to gain in value. The EURUSD opened at $1.13102 and climbed to near-session highs of $1.13312 before falling to lows of $1.13003 mid-session. The euro bounced off those lows as it shot up to a high of $1.13367 late in the day. It has come of those highs and is currently trading at $1.13269. The GBPUSD fared better overnight after opening at $1.26828. The pair slid to a low of $1.26693 mid-session before turning it around and peaking at $1.27314 late in the day. It has managed to hold itself above $1.27 and is currently trading at $1.27205.
The Dow looked set for another healthy session until a drop late in the day saw it fall into negative territory. The index began the day at 26,094.77 and made steady gains throughout most of the session, hitting a high of 26,255.55. It quickly gave up that high in late trading as the Dow fell to lows of 26,000.61. It has come off those lows and is currently trading at 26,062.12. The Dax fared better than the Dow but still gave up earlier gains. The German index started the day at 12,118.33 and dipped to a low of 12,111.33 early in the day. The Dax climbed off those lows and hit a high of 12,222.17 late in the day before giving up most of those gains and closing at 12,144.05.
The day ahead sees the publication of some vital economic data from the US. Later tonight, the US will be publishing CPI & Core CPI data. Controlled inflation is crucial to economic growth and the Fed Reserve uses these figures to help decide monetary policy settings for the country.
Other data released today includes:
China – CPI, PPI
Australia – RBA Assistant Governor Luci Ellis speaks
US – Crude Oil Inventories, Federal Budget Balance
Europe – French Final Private Payrolls, ECB President Mario Draghi speaks
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