US data in focus

July 16, 2019

Quite a busy Tuesday coming up for markets, with plenty of data scheduled for publication.

The EURUSD started the day strongly before weakening slightly in the back end of the session. The pair started the week at $1.12664 and climbed early in the day, hitting a high of $1.12831 mid-session. The euro stayed near those levels for a few hours before falling away late in the day, dropping to a low of $1.12523. It has come off those lows and is currently trading at $1.12607. The GBPUSD struggled overnight after getting off to a promising start to the week. The pair opened the week at $1.25491 and shot to a high of $1.25769 early in the day. It stayed near those highs until mid-session, where the decline set in. The pound declined over the back half of the day, hitting lows of $1.25092 late and is currently trading at $1.25174.

The Dow took a breather from its recent rallies, trading reasonably flat for most of the day. The index began the week at 27,324.03 and slipped to a low of 27,285.64 early in trading. The following few hours saw the Dow climb to a high of 27,421.77.  It ebbed and flowed for the rest of the session and is presently sitting a 27,375.15. The Dax endured a wild session overnight after opening at 12,346.51. The German index rallied to a high of 12,432.88 shortly after the open before crashing to a low of 12,294.09 just as quickly. The Dax spent the rest of the session recovering those losses, regaining most before closing at 12,405.93.

The day ahead sees the release of a stack of info, with the most significant emanating from the US. The US will be publishing Retail & Core Retail Sales figures later tonight. Both figures are expected to come in at 0.1%, a fair way down from the 0.5% that was posted at the last reading.

Other data published today include:

Canada – Foreign Securities Purchases

Australia – Monetary Policy Meeting Minutes

Europe – European & German ZEW Economic Sentiment, European & Italian Trade Balance

UK – Average Earning Index, Claimant Count Change, Unemployment Rate, BoE Governor Mark Carney Speaks

US – Import Prices, Capacity Utilisation Rate, Business Inventories, Industrial Production, NAHB Housing Market Index, Fed Chair Jerome Powell and FOMC Members Charles Evans & Michelle Bowman speak

 

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