US data rounds out busy week
A stack of data is scheduled today as we round out the week.
The dollar continues to strengthen, putting pressure on paired currencies. The EURUSD opened at $1.12857 and lifted to a high of $1.13033 mid-session. The euro came off those highs, hitting a low of $1.12674 a few hours later. It came off those lows but was unable to peg back the earlier losses. It is currently trading at $1.12674. The GBPUSD was fairly flat overnight after opening the day at $1.26861. The pound traded in a tight range early before falling to a low of $1.26608 mid-session. It bounced off those lows and climbed to a high of $1.27070 as it headed into last session trading. It gave up a chunk of those gains and it is currently trading at $1.26782.
The Dow made some modest gains overnight after beginning the day at 26,016.17. The index fell to lows of 25,885.68 a few hours after the open before rallying over the net several hours to peak at 26,149.93. It has come off those high and is currently trading at 26,081.72. The Dax surged overnight when it opened at 12,083.70. The German index dropped to an opening-hour low of 12,065.67 before powering to a high of 12,201.97 a few hours later. It came off those highs slightly but maintained most of the earlier gains before closing at 12,164.88.
The day ahead sees the publication of plenty of data, headlined by data from the US. The US will be publishing Retail & Core Retail Sales figures later tonight. In the midst of calls for the Fed Reserve to cut interest rates, despite strong economic data from the US, these figures will be keenly watched. Retail Sales are expected to grow by 0.7%, while Core Retail Sales is expected to grow by 0.5%.
Other data released today includes:
Japan – Revised Industrial Production
Europe – ECOFIN Meetings, French Final CPI
UK – CB Leading Index, BoE Governor Mark Carney speaks
China – Fixed Asset Investment, Industrial Production, Retail Sales, Unemployment Rate
US – Capacity Utilisation Rate, Industrial Production, Business Inventories, UoM Consumer Sentiment & Inflation Expectations
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