Markets eye US data
A fair amount of important data is scheduled for release from around the world, most notably the US.
The USD began its ascendancy overnight, pushing paired currencies down. The EURUSD started the day at $1.13969 and climbed early to hit a high of $1.14113. The reversal of fortunes began shortly afterwards however as the euro lost ground for most of the session, hitting a low of $1.13432 late in the day. It has come off those lows and is currently trading at $1.13658. The GBPUSD’s fall was more dramatic after opening at $1.27347. The pound lifted early before a spike up saw it peak at $1.27828 mid-session before tumbling over the course of the rest of the day, hitting a low of $1.26716 late in the day. It has come off those lows and is currently trading at $1.26888.
The Dow endured a poor session overnight after opening the day at 26,751.53. The index lifted to an early high of 26,835.39 before giving up those gains and remaining flat mid-session. Late trading saw the Dow falling to a low of 26,459.22. It is currently struggling at 26,535.04. The Dax got off to a promising start but was eventually weighed down by the Dow. The German index started the day at 12,214.08 and climbed to an early high of 12,278.68 and stayed near those levels for a few hours. Late trading saw the Dax bottom-out at 12,171.78 before closing at 12.179.80.
The day ahead contains a few pieces of significant market data from around the world, with the US coming into focus. Later tonight sees the publication of US Core Durable Orders data which is good indicator that reflects the health of the economy. It is expected to grow by 0.1%, compared to 0% from last reading.
Other data published today includes:
NZ – Official Cash Rate, RBNZ Rate Statement
UK – Inflation Report Hearings, High Street Lending
Europe – German GfK Consumer Climate, Credit Suisse Economic Expectations
US – Durable Goods Orders, Goods Trade Balance, Prelim Wholesale Inventories, Crude Oil Inventories
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