European data rounds out the week

June 21, 2019

A stack of data is set to round out yet another busy week for markets.

The EURUSD broke back through the $1.13 barrier overnight, after looking in trouble at $1.11800 a couple of days ago. The pair opened the day at $1.12250 and dipped to an opening-hour low of $1.12240. The euro rallied from that point, piling on the value until it peaked $1.13168 mid-session. It came off those highs slightly, dipping back below $1.13 and is currently trading at $1.12922. The GBPUSD followed the same path as the euro, with the USD showing further weakness. The pair opened at $1.26396 and dipped to an opening-hour low of $1.26264. The weakening USD allowed the pound to rally to a high of $1.27265 mid-session. It has come off those highs but has managed to stay above $1.27, currently trading at $1.27054.

The Dow put in another strong performance overnight as it now sits within striking distance of all-time highs. The index began the day at a low of 26,510.35 before surging for most of the session. After reaching a near-session-high of 26,786.39, the Dow dropped to 26,547.35 before rallying again to hit a high of 26,810.40. It is currently trading at 26,767.36. The Dax opened much higher than it closed at the previous session, meaning that it opened and closed rather flat overnight. The German index started the day at 12,358.92, around 50 points higher than its previous close. The Dax then climbed to a high of 12,434.10 in early trading before sliding for most of the session. It bottomed-out at 12,312.53 before closing at 12,367.73.

The last day of the trading week sees the publication of a host of data for traders to sink their teeth into. Europe comes into focus later today as the continent releases a stack of PMI data. These figures have a potential to affect the euro as well as the Dax.

Data published today includes:

Canada – Retail & Core Retail Sales

Japan – Flash Manufacturing PMI, National Core CPI

UK – Public Sector Net Borrowing, BoE Quarterly Bulletin, MPC Member Silvana Tenreyro speaks

US – Flash Manufacturing & Services PMIs, Existing Home Sales, Bank Stress Test Results, FOMC Member Lael Brainard speaks

Europe – European, German and French Flash Manufacturing PMIs, European, German and French Flash Services PMIs

 

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