Packed week for markets
A stack of data is scheduled for publication from around the world should ensure plenty of opportunities for traders.
The EURUSD endured a roller coaster session on Friday after opening the day at $1.12529. The pair climbed in early trading to a high of $1.12744 before falling mid-session to a low of $1.12374. The euro managed to recover most of the losses late in the day and in early Monday trading, it is currently sitting at $1.12700. The GBPUSD was more consistent last Friday when it opened at $1.25229. The pair dipped to a low of $1.25171 in the opening hour before beginning its march upwards. The pound ended the week on a high, peaking at $1.25787 in the final hour of trade. It is not far off those highs, currently trading at $1.25708.
The Dow continues to impress, seemingly trying to entrench itself above 27,000. The index began Friday at 27,093.11 and slipped to a low of 27,089.83 shortly after the open. It was basically all one way from there as the Dow climbed throughout Friday trading. It peaked at 27,531.65 shortly before the close and is presently trading at 27,319.36. The Dax continues to underwhelm, stubbornly heading in the opposite direction to the Dow. The German index started the day at 12,369.91 and lifted to a high of 12,385.58 shortly after the open. The Dax dropped to a low about an hour later, hitting a low of 12,299.52. It tried to recover but was unable to do so as it faltered its way to a 12,322.18 close.
Data published today and the most crucial this week include:
Today – China GDP, Industrial Production, Fixed Asset Investment, Retail Sales, Unemployment Rate and NBS Press Conference, Swiss PPI, US Empire State Manufacturing Index, FOMC Member John Williams speaks
Tuesday – US Retail & Core Retail Sales, UK Average Earnings Index, Australian Monetary Policy Meeting Minutes, NZ CPI
Wednesday – UK CPI, Canadian CPI, Fed Chair Jerome Powell and FOMC Member Charles Evans speak
Thursday – UK Retail Sales, Australian Employment Change & Unemployment Rate
Friday – Canadian Retail & Core Retail Sales, UK Public Sector Net Borrowing
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